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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 ?
This year we've added a new item with the Glazed Hotcakes which actually remind me of warm glazed doughnuts.
Cacti and other tropical plants are also popular, with larger specimens selling like hotcakes.
Consumers are showing a great deal of interest in the diamond solitaire engagement ring collection and the u karat and 1 karat diamond jewelry are already selling like hotcakes, she added.
Electric Picnic is getting another great response this year and the tickets are selling like hotcakes," a spokeswoman told the Irish Mirror.
Woodland Hills, is busy selling USDA Prime 3/4-pound bone-in filet steaks for $36 like they were hotcakes.
We knew they'd sell like hotcakes, so the rest of the money is going to the Xavarian Fathers for their missionary work in Cambodia, Ethiopia and Brazil.
The business genius said: "After the terrible tragedy we cut our prices even lower and seats on our planes sold like hotcakes.
At McDonald's, a large order of fries has less sodium than a serving of any sandwich, biscuit, danish, hotcakes, cookies, salad dressing, or apple pie.
HOODIES with a built-in facemask selling like hotcakes at two sports stores are "ideal for rioters" an MP said yesterday.
Our students are extremely competent when they graduate and they're picked up like hotcakes," he said.
An essential new chapter in the Carly Simon canon, Moonlight Serenade has become one of the artist's three highest-charting albums to-date -- following No Secrets (#1, 1973) and Hotcakes (#3, 1974) -- and joins Playing Possum (#10, 1975) and Boys In The Trees (#10, 1978) as one of her five Top 10 successes.
Keep it funp Charles and Camilla memorabilia - wrongly dated mugs (pictured below) and tea towels are selling like hotcakes nowp Wedge heels.