A Constitutional requirement that public acts, records, and judicial proceedings of one state be accorded the same effect as in the state of the act or proceeding. A Full Faith and Credit Security is a pledge of repayment that places taxing power or other assured revenue sources as security for the repayment of the debt.
An unconditional commitment to pay interest and principal on debt, usually issued or guaranteed by the U.S. Treasury or another government entity. see also combination bond, credit, Savings Bond, Treasuries, GNMA.
The Constitution requires the states to cooperate with each other and binds them together into one nation. Pg. 250.
A pledge by an issuer to pay interest and principal on debt securities when due.
A legal doctrine that means that a state must honor the judgment of a court in another state and give the same credit that it is entitled to in that state.
A requirement of the U.S. Constitution that the records and judicial proceedings of one state shall have the same effect in courts of other states with the same jurisdiction.
Guarantee by the U.S. Government to repay the principal and interest on certain government-issued debt obligations.
Term used to describe a security for which a government entity pledges its full taxing and borrowing power, plus revenue other than taxes to support the payment of interest and repayment of principal. For instance, Treasury securities are backed by the full faith and credit of the U.S. government. See: Principal; Treasuries
The term full faith and credit means that the full taxing and borrowing power of a government entity is pledged toward the payment of interest and the repayment of principal of bonds issued by that government entity. U.S. government securities and the general obligation bonds of states and local governments are backed by this pledge.
A pledge to pay interest and principal on a bond issued by the government.
A pledge of the general taxing power of a government to repay debt obligations (typically used in reference to bonds).
People who are creditors of government are often protected from loss by the full faith and credit of the government. This means that the government will either use future taxes or borrowing to pay off loans or bills. financial performance: Performance is used as an all embracing term to include financial success, conditions, and compliance. It is historical in perspective, referring to performance during a period (perhaps a year) just past.
A constitutional doctrine under which a State must honor an order or judgment entered in another State.
The constitutional doctrine under which a State must honor an order or judgment entered in a sister State.
Federal and municipal governments can promise repayment of the debt securities they issue because they are able to raise the money they need through taxes, borrowing, and other sources of revenue. That power is described as full faith and credit.
The pledge of "the full faith and credit and taxing power without limitation as to rate or amount." A phrase used primarily in conjunction with General Obligation bonds to convey the pledge of utilizing all taxing powers and resources, if necessary, to pay the bond holders.