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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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Going Off Big Time was produced on a budget of pounds 500,000 and took just five weeks to shoot using virtually all local cast and crew
It was not to be - because at 2.40am there was yet again a succession of very loud bangers going off again!
Another resident, Peter Hyatt, aged 52, said: "The alarms are always going off, and it really needs to be sorted out."
Going Off Big Time will take place at 7pm on Tuesday, November 9, at the Picturehouse at FACT on Wood Street, Liverpool.
"You have three sophisticated time bombs going off outside a police station, that's serious enough for police.''
"A security van with its alarm going off can put some people into a state of alarm."