What is the primary source of repayment for general obligation bonds?

General obligation bonds are a type of municipal bond that is secured by the issuing government's power to tax its constituents—primarily through property taxes. The primary source of repayment for these bonds comes from general revenue sources, which typically include property taxes, income taxes, and other taxes that the government has the authority to levy. This broad array of revenue sources allows the issuing body to fulfill its obligations to bondholders effectively.

When a government issues general obligation bonds, it pledges its full faith and credit, meaning it commits to using available general funds to repay the debt. This contrasts with revenue bonds, which rely solely on specific revenue sources for repayment. By including all general sources—such as property taxes and income taxes—option D accurately captures the comprehensive nature of how general obligation bonds are serviced, making it the correct answer.

The other choices reflect sources that may be used in particular situations or types of financing, but they do not represent the complete range of general funds that back general obligation bonds. This distinction is crucial for understanding municipal finance and the framework within which various types of bonds operate.