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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 ?
The original bill was to freeze the rates and Class IV would not have gone down.
It was the first time one of the $43 million F-117 jets has gone down in hostile action, after performing flawlessly in hundreds of missions over Iraq in 1991.
Gerald Pindus, president of TedPin Realty which owns and manages apartments in Queens and Brooklyn and Westchester, said the price of the apartments has gone down and across the board, owners have vacancies because of the glut of apartments on the market.
Horn, of Moline, went down from a shot to the midsection, the first time in his 10-year career that he had gone down due to a blow to the body.