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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 ?
The B buildings, we won't even go into the C buildings, are the ones that are going to suffer and will be the last ones to be affected.
How it used to be that you couldn't drink from the fountain, you couldn't go into the restaurant, your kids couldn't attend the school.
So, what's our future if we go into these European institutions and don't start our own?
Davis: It has to be done in this administration in that the bubble of income is only available in this next four-year window, or we'll go into crisis management.
I don't have the confidence to go into a sauna and have sex with someone I've never met before.
But perhaps the most important thing is that many of the women in this program are going to go into child care themselves.
We go into the store and Miss Drake asks us what we want.
I deliberately named it Space and C41SR to demonstrate what an ugly conglomeration of letters go into making up that name.
The problem is if you ever go into the city and state meetings and sit on the sidelines they scream at each other, nobody knows who's on.