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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 ?
3 easy pancake artworks to try !-- -- (philstar.com) - October 4, 2018 - 5:32pm MANILA, Philippines Everyone loves eating hotcakes for breakfast (and even for lunch and dinner).
Hotcakes have become the breakfast go-to option for that perfect balance of savory and sweet, especially when drizzled with syrup and various toppings.
With more intricate designs, it is possible you end up cracking your hotcake. The trick to avoid this, according to Elle Jay, is, as soon as you turn the heat up, just watch the bubbles pop.
New York, April 9 ( ANI ): Kim Kardashian and Kanye West's Vogue issue is reportedly selling like hotcakes despite all the criticism, making it on par with top-selling issues featuring Beyonce and Michelle Obama.
HOTCAKES nAll-Ireland buns on sale in Dail yesterday
She who hesitates doesn't get any Esbeda 'Exotic Neutrals' because these promise to sell like hotcakes in the growing fashion conscious populace!
It was the Florida debut of Douglas David Cottage's water-ski furniture line, which creator Douglas David has been selling like hotcakes for five years in the lake resort towns of northern Michigan and Wisconsin.
The Oil Ministry said bonds at that rate sold like hotcakes and that the ministry actually issued more bonds than planned to take advantage of their popularity.
Tickets go on sale on Monday February 27 and no doubt the 22,000 tickets that will be made available will be hotter than hotcakes.
We can imagine it selling like hotcakes. We think the girls put together a very articulate and confident pitch.
Greenhouse grown tomatoes can't stand up to the competition of a ripe heirloom, but when everyone still has only tiny green rocks on their plants at home, they sell like hotcakes. Hoophouses, cloches, overwintering, shade covers, and other season extenders could help you have unique product (even if it's only unique for that week).
With the current shortfall of electricity which is around 3,000mw, it is envision of traders that UPS and electricity generators will sale like hotcakes in the coming months.