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General Obligation Bond

In the United States, a municipal bond in which the issuing locality pledges to use all revenues at its disposal to pay bondholders, including the raising of property taxes. Should a sufficient number of residents not pay their property taxes that it impacts revenue for bondholders, the terms of the bond legally require the municipality to raise property taxes to make up the shortfall. There are two basic types of general obligation bonds. A limited GO allows for the raising of property taxes up to a certain percentage, while an unlimited GO theoretically allows the municipality to levy taxes of up to 100% of a property's value. Because an unlimited GO provides a great incentive to pay property tax on time, and because many states only allow such a bond to be issued following a vote on the matter, credit ratings agencies usually rate them higher. However, both types of GO are generally rated highly.


To trade, especially at a given price. For example, one may say that a stock "goes" at $10, meaning that one may trade at its current share price of $10.


References in periodicals archive ?
His company, and other leading operators are urging the Government to extend the consumer protection of its ATOL bonding scheme, to ensure that money spend on thousands of scheduled and low costs flights will be safe if suppliers go bust.
The fund will receive pounds 300 million a year from a levy on pension schemes, and will also take over the assets of schemes when firms go bust.
The bubble hasn't burst, but some people are going to go bust in the meantime.
Despite the restraint in using leverage, buyout funds are watching their portfolio companies go bust at alarming rates, The Daily Deal (www.
Christmas savings firms will ring-fence families' money so it is untouched if the companies go bust, the government has said.
Customers' money will now be held in ring-fenced accounts so they get it back if firms go bust.
The Government has publishedaPensions Bill to set up a compensation scheme to help workers whose firms go bust but it will only co ver future problems and will not help workers who have already lost pensions.
The Civil Aviation Authority said the 13,000 holidaymakers away at the moment should be able to finish their trips as the firm was a member of Atol - which protects travellers when companies go bust.
The CAA confirmed the firm still held an Air Travel Organisers Licence (ATOL) - the protection scheme for consumers where firms put down a bond to pay for holidays and flights in case they go bust.
The Government has published a Pensions Bill to set up a compensation scheme to help workers whose firms go bust but it will only cover future problems.