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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 ?
A nationally representative sample of men and women from across the four provinces was asked the question whether education can stop a person from going towards religious extremism or not.
? Some of the items Chester Zoo is selling on eBay with all proceeds going towards the zoo's 80 global conservation projects.
He stated here on Friday that Zaliman (Terrorists) are going towards the logic end and it would be better for those who are left behind to hand over themselves to the government.
He went through at 68 mph in a 50 mph area on both occasions -once going towards Flint and then going towards Prestatyn seven minutes later.
Carry on, passing a turning to the right, (Hawkes Mill Lane), and then, at the next junction, turn left into Oak Lane, going towards Meriden.
More than half the money will be spent on major projects, with the rest going towards equipment.