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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 ?
But, bolstered with some aspiring reserve team players, Valley were always going to prove a tough nut to crack with man of the match Liam Murphy, above, and ever improving Gerard Kelly who along with Paul Michael Kelly and Kevin Murphy put up a brick wall in front of Magherafelt.
The Baggy Greens went on to make a mammoth 344-run total, which was always going to prove beyond the tourists.
This guy in our cab started saying `My name's Lennon and I'm going to prove it to you - I've been waiting outside for you'.
"I proved those people wrong by going over to Athens and winning the silver medal and I'm going to prove them wrong again by winning the world title."
However, on this occasion he overcame early crowding to gain a clear run at the pace-setting Pottos Knows and was always going to prove too strong for David Mullins' dog.
But if people are saying I'm finished, I'm going to prove them wrong."
Something you thought you'd never be able to handle is going to prove so easy you'll take on a bigger challenge still ...