the use of property as security for a loan
hypothecation (plural hypothecations)
- (Britain) A tax levied for a specific expenditure
1984, John R. Butler & Michael S. B. Vaile, Health and Health Services: An Introduction to Health Care in Britain, →ISBN, page 68:
- It is, however, precisely here that the weakness of hypothecation lies, for governments are not likely readily to surrender control over the disposition of taxes they impose.