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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.


References in periodicals archive ?
Nearly PS2,000 was raised thanks to the hard work of all involved, this money goes towards supporting a range of activities for students as well as going towards the purchase of replacements minibuses which are vital to the school.
ISLAMABAD -- Eighty-nine per cent of Pakistanis think education can stop a person from going towards religious extremism.
Registration is pounds 5 per person with all proceeds going towards the running costs of each charity.
Money raised will go towards Help for Heroes and Zoe's Place, with extra funds going towards the Eathorpe village hall.