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What is a general obligation bond?

April 26, 2017Bond obligation

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What is a general obligation bond?

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Similar to a home loan, general obligation (“G.O.”) bonds generate funds for community improvement projects, such as the renovation of existing classrooms and school facilities and the construction of new schools and classrooms. Similar to a home loan, Measure T will be repaid over 25 years.

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G.O. bonds fund projects such as the renovation of existing classrooms and school facilities, as well as construction of new schools and classrooms. Similar to a home loan, G.O. bonds are typically repaid over 30 years. The loan repayment comes from a tax on all taxable property – residential, commercial, industrial and agricultural – located in the District.