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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 ?
After two contentious decisions, there is a one in four chance that both will have gone against you.
"We all need to repent of what we have done wrong and if those who have gone against the clear teaching of the Bible and the Church are willing to repent that would certainly change the situation.
"They have assessors at every match and there is an agreement that decisions have gone against us.
Holly has to use her powers to save her friends and to keep searching for Jer, who had gone against his father.
Evidence "I thought we were fantastic for the first 35 minutes only to be undone by another decision which has gone against us.
Big decisions decide games and the last two have gone against us, but we have to put them to bed because we can't change it."
``But many things have gone against us: the goal at Charlton which was offside, David Unsworth's sending off against Chelsea,Wayne Rooney's sending off at Birmingham are all examples.