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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 ?
Rural Zimbabweans (79%) are also more likely than urban respondents (69%) to report having gone without enough food to eat in the past year.
She has seen mums who have gone without food so their kids could eat.
A total of 19 per cent said they had gone without food to make ends meet, while 14 per cent had sacrificed heating.
THE number of matches the Bannsiders have gone without recording a league victory over Linfield.
Across the 29 sub-Saharan African countries Gallup surveyed between 2006 and early 2008, a median of one in three residents (33%) said they or their families had gone without enough to eat several times or more in the past year, and a median of 26% said this had happened just once or twice in that period.
PLUCKY school pupils have gone without luxuries for the night in aid of charity.