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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 seen them pull up near Broad Street in their cars, get their blankets out and go begging.'
We allowed two points to go begging and that could cost us this season.
Pickering and Richards saw further chances go begging in the second half but the lead was soon doubled in spectacular fashion.
Luck had deserted Paulo Bento's men for long periods before that as the home side hit the woodwork four times while Real Madrid superstar Cristiano Ronaldo also saw a series of chances go begging.
The chancellor, Denis Healy, had to go begging to the IMF to bail us out and was ostracized by Labour activists for doing so.
ALAN Shearer has admitted he does not know how many points will keep Newcastle up after seeing two go begging in a goalless draw against Portsmouth.
After half time the visitors had the better of the play and saw half a dozen chances go begging but the home side increased their lead on 65 minutes when Murphy got his second when he turned on a poor Rovers clearance from 15 yards.
Underwood and Howard saw chances go begging before skipper Kevin Nicholls doubled the lead from the penalty spot after Louis Carey tripped Rowan Vine.