The County's Moral Obligation is a form of credit enhancement that can lead to a lower interest rate for a project's private financing. The County, subject to annual appropriations, indicates its support for backing certain financial transactions.
The term moral obligation has a number of meanings in moral philosophy, in religion, and in layman's terms. Generally speaking, when someone says of an act that it is a "moral obligation," they refer to a belief that the act is one prescribed by their set of values.