The most popular and widely held munis are general obligations of the issuer, and its coupon interest is usually paid by specific revenues such as water usage or sales tax revenues.
One strategy for playing it safe is to shorten the duration of your muni holdings and consider owning bonds that are backed by a mix of general obligations from stable issuers and revenue bonds backed by specific cash-flow rich franchises.
Bottom line, compliance with the general fiduciary obligations is not a defense for participant losses.
However, when the government provides a narrow exemption from general tax obligations it essentially is writing a check.
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The final word and reference will still be resolution No. 687 with its obligations on both the Secretary General and Iraq, along will the code of conduct agreed upon in the agreement signed by the Secretary-General in New York on 16th September 2002, and the press statement of Hans Blix and (Mohamed) ElBaradei in Vienna ...
The general fiduciary requirements are not options they are obligations.
But since the government has spent the trust fund money, it has to draw from general revenues, or borrow money, to meet those obligations.
Given the enormous obligations of many Ivy League endowments to fund general university operations, their portfolios were positioned on the wrong point of the efficient frontier.
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Under the General Agreement on Trade in Services, the United States undertook certain obligations on H-1B and L-1 visas.
How many times have we heard that for every car General Motors sells, thousands of dollars must go to honor retirement obligations?
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Not included are such ancillaries as ongoing lease obligations, any seismic or other geoscience disbursements, or any general and administrative burden at the field or corporate levels.
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Anyone paying attention to the crisis at General Motors prior to the government bailout would have seen that the health care obligations for retired and current employees contributed to the massive debt the company built up.
"Before you consider other issues raised in the petition, we ask the attorney general and the Maharashtra state government's standing counsel about the discharge of obligations by state to protect the life, liberty and property of citizens and to discharge these obligations, " the three-member panel of judges said.
The Director-General has contacted national authorities in countries sharing borders with Mali to remind them of their obligations under the provisions of the 1970 UNESCO Convention on the Means of Prohibiting and Preventing the Illicit Import, Export and Transfer of Ownership of Cultural Property.
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