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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 ?
This type of game playing soured the other fence-sitters and the go-getters. They told the gainsharing coordinator that suggestions should not all be rewarded equally.
It was obvious to the nonmanagement employees that the new coordinator had too many responsibilities; even the go-getters began to question the company president's commitment to gainsharing.
The following month, fence-sitters and some go-getters boycotted both the department team meetings and Review Board meetings in support of the union president.
Some go-getters continued to hold their team meetings and to attend the Review Board meeting because they believed it was wrong for the union to take out its hostilities on gainsharing.
Worse yet, the fence-sitters and some go-getters went along.
Under these conditions, management opponents and fence-sitters will act like go-getters whenever the company president pressures them to be more active, but they will be silent when it is obvious that the president has made a wrong decision, such as choosing the wrong person to be gainsharing coordinator.
* Go-getters. Go-getters tend not to complain about management's obvious calculation manipulations because the bonus is not a high-priority item for them.
Fence-sitters tend to lose faith in go-getters when managers are obviously manipulating gainsharing activities.
Opponents tend to care much more about the gainsharing bonus than do either the fence-sitters or the go-getters. Opponents do not trust managers and do not want to participate on teams because this means acting like a manager.
Second, gainsharing go-getters must challenge detrimental political games, particularly in facilities where there is a history of adversarial management-nonmanagement relations.