municipal bond backed by the full faith of the issuing government but not by its full taxing power; rather it is secured by the pledge of a special tax or group of taxes, or a limited portion of the real estate tax.

general obligation municipal bond secured by a pledge of tax receipts from a specific revenue source, usually real estate property taxes, a portion of the real estate taxes, or a group of specific taxes. Contrast with an unlimited tax bond, which is backed by the general taxing authority of the issue.