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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 ?
Other money, he says, will go towards new road construction, bridges and maintenance.
Local riding and pony club member, Rhiannon Hicks, is recovering after being badly injured in a riding accident, and it was decided that the proceeds should go towards a fund on her behalf.
According to NOF, there are 29 ringing tones from 28 different bird species and each download of a ringing tone will cost NOK10, of which NOK1 will go towards bird protection, reported NTB, a Norwegian news agency.
Another pounds 3million will go towards drug education work in schools and pounds 10.5million to support 106 local Drug Action Teams.
Funds will go towards helping their team of staff provide, care, support and guidance in their eight-bed in-patient unit, their day hospice and in people's own homes.
Contributions raised during the half marathon will also go towards the university's work with public health.
"The generous donations will now go towards helping parents and children across the region.
A massive pounds 60,000 has gone to James Cook University, in Middlesbrough, to go towards epilepsy treatment and support.
Some of the money raised by the appeal will go towards an academic department for paediatric respiratory research.
Money raised will go towards the breast cancer research programme at the Linda McCartney Centre, at the Royal Liverpool Hospital.
Approximately $8.9 million will go towards a new water treatment plant at Kee-way-win First Nation.