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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 ?
"People are taking them out because when they are cooking and haven't got a window open they can go off.
Thunderstorms and real lousy weather are the only things that could do that and he could go off at 2-1.
Bestie is on a waiting list for the vital operation and has a buzzer which will go off when doctors find a compatible donor organ.
ALLOWING mobile phones to go off in court is to be treated as contempt of court by a judge at his Warwick Crown Court hearings.
EU enforcers threatened a "bomb" will go off if the EUR1.25billion payout is not made to Anglo gamblers this week, it was claimed yesterday.
There had been suggestions that the Donald McCain-trained eight-year-old could go off as short as the trainer's father's Red Rum in 1975, when the Aintree legend started at 7-2 before finishing runner-up to L'Escargot.
Luckily her next door neighbour, a woman in her 20s, heard her smoke alarm go off.
Every premises we stopped at, the alarm would go off.
A 600lb bomb that didn't go off was the big story yesterday.