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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 ?
"It goes against the Hippocratic Oath--above all do no harm--so you feel dreadful." It's important to recognize these emotions, and then face up to what happened, she said.
They have pointed to passages like Acts 5:29, "We must obey God rather than any human authority." If the government goes against our Christian beliefs or ethical obligations we must oppose the demands of the government.
Mars said: "We believe that any decision which goes against freezer exclusivity would be good news for the consumer and good news for ice cream makers generally."
"This goes against everything we had been taught," says kidney specialist Gary C.
Because M's position goes against a revenue ruling, his tax preparer advises against taking the deduction.
London's move angered religious leaders, who say homosexuality goes against the grain of the deeply religious and socially conservative islands.
She said she was somewhat surprised by the statements "because the tenor of them goes against what our ecumenical colleagues in the Vatican are saying."
Ten million homebuyers could end up paying more for their mortgages if a key vote goes against them this week.
Earlier today while talking to ANI, BJP national secretary Tarun Chugh said, "Who so ever be, if he goes against the party line, he will have to face action.