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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 ?
I've come to realize that in many ways the dialogue between the visually expressive and inventive side of architecture, with its counterpoint in explorations of meaning, memory, and functionality, is perhaps just getting going. Is architecture a thing that frames space and experience; or is it space and experience that frame a thing?
Bars close at 1 a.m., just when things are getting going, and hundreds of descamisados--shirtless ones--empty into an area of Commercial Street in front of a pizza parlor.
"I had 40 winners last season big Saturday winners and I just wasn't getting going again."
I set myself a target of 20 winners by the end of the year and, having achieved that, I was looking forward to getting going again and making it my best season ever, and then this happens."