### Question
How is the term project obligation defined?


### Answer
The term **project obligation** is defined in *23 U.S.C. § 601* as the following:

> any note, bond, debenture, or other debt obligation issued by an obligor in connection with the financing of a project, other than a Federal credit instrument

#### Citation:
  - *23 U.S.C. § 601*
  - Heading: **CHAPTER 6-INFRASTRUCTURE FINANCE**

