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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 will never go down the line of slagging off Wigan because it has been a big part of my life, but it does become really hard fighting fires all the time and trying to pull rabbits out of the hat.
"I look at how much the people in these places get paid to furnish us with things in this country, and I want to guarantee the profits go down the line.
"We don't just want to go down the line of the standard old guests, we want someone quirky."
They never really go down the line, outside people.
GREG RUSEDSKI'S former Davis Cup teammate Barry Cowan believes tennis must go down the line of zero tolerance over drugs.
He said: "We would have to be desperate to go down the line of wanting the Old Firm to go.
"The only regret I have is maybe I should have taken more of a risk on match point, go down the line,'' she said.