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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.

Goes

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.

GO

References in periodicals archive ?
It goes without saying that you avoid fur, leather, suede, and possibly wool, but have you ever thought about the cotton you don?
It goes without saying that you should always warm up before you work out, but for some of us it also goes without doing.
It goes without saying that our first priority has to be safety, and so in the case of weapons we must take a hard line.
has this to say: "His organization skills and medical experience will be greatly appreciated and although we hope the season goes without accident, the risk is always there and to have an experienced EMT who is also a diver provides a real increased safety factor, we will be working where medical assistance may take several hours to arrive on the scene if there is an accident, and with Luke being there it will just give the crew a larger margin of safety.