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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.

Goes

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.

GO

References in periodicals archive ?
BRAZ AZ AZIL star Fred's moustache has star Fred's moustache has gone down well with some Hoops fans.
I just wish Sidney hadn't gone down so we could've seen how the game would have come out,'' said coach Newton Chelette, who has led AVC to the playoffs in each of his 13 seasons.
Coincidentally, as owners halted concessions, Jacob said, the vacancy rates have gone down.
the Los Angeles County Sheriff's Department received a call that a plane had gone down about 500 to 1,000 yards off the Topanga Beach Lifeguard Headquarters in the Santa Monica Bay.
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.