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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.
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Although it goes without saying that people shouldn't flush drugs down the toilet or take unnecessary antibiotics, advising readers to use condoms instead of birth control pills is a very poor piece of advice.
It goes without saying that you avoid fur, leather, suede, and possibly wool, but have you ever thought about the cotton you don?
It goes without saying that you should always warm up before you work out, but for some of us it also goes without doing.
It goes without saying that our first priority has to be safety, and so in the case of weapons we must take a hard line.
It goes without saying that an undiscovered 10 percent under-reporting of patients on your cap lists is equal to a 10 percent drop in your capitation check for that time period.
It goes without saying that we shouldn't liquidate the old-growth in one generation.