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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.
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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 ?
Spinola was generally pleased with the overall budget and tax rate although he noted the commercial tax rate should have gone down more than it did.
Spooner: A lot of factors can explain why the level has gone down. Corporate profits have changed over time.
The prices of imported garlic being sold in the local market have gone down from P20 to as much as P130 per kilo in some Metro Manila markets, according to the Department of Agriculture (DA).
BRAZ AZ AZIL star Fred's moustache has star Fred's moustache has gone down well with some Hoops fans.
Meanwhile, prices of medium quality rice has gone down from P1,820 per sack to P1,780, and imported premium quality rice from P1,800 per sack to P1,750.
"As opposed to some teams who have found themselves plummeting to the division below because they've probably overgambled in the Premier League and gone down.
Coincidentally, as owners halted concessions, Jacob said, the vacancy rates have gone down. "There is a real strain on the market," he added.