CHICAGO — Detroit will default on its October 1 general obligation bond payments, making it one of the largest cities to default on such a payment since the Great Depression.

Emergency manager Kevyn Orr warned in June that the city would stop making payments on all so-called unsecured debt, so the move was not unexpected. But it will mark the city's first official GO bond default, on both unlimited-tax and limited-tax GO bonds. It will also make Detroit the largest municipality to default since New York City was late on a note payment in 1975, municipal market experts said.

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