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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 ?
Although both sides were ready to go to the mat over Title IX, the challenge to the law that bans sex discrimination in education passed without action--at least for now.
A cartoonist "has the right and obligation to go to the mat on a killed cartoon," Fairrington said, but in this case the Republic "made the correct decision." He added: "Although I wholeheartedly agree that Americans are out of shape and that Dave Thomas did in fact sell junk food, any inference that he died from heart-related problems proved to be incorrect.
Wood Wrestling Federation Commissioner H-Dog Anderson applauded the editors' willingness to 'go to the mat" to bring the unusual, amusing and absurd from the world of woodworking to their readers.
"I'm prepared to go to the mat on (a quick Senate vote banning cloning).
Latin America should go to the mat with the fat cats.
The head of his local civic association, Foster will go to the mat for his neighborhood, whether it's for a streetlight or an extra cop on the beat.
Fish don't fight half-assed battles; they go to the mat every time.
And there is some evidence that some of the big business community will not go to the mat on this.
Many in the media who are below the pay grade of publisher squirm at mere mention of the term commercial speech, because it forces us to think about whether we would go to the mat defending the First-Amendment rights of cigarette, alcohol, and gun advertisers.