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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 ?
When the system passes the leak test, it should be recorded on the prove report.
The failure of the prosecution to prove the corruption charges has led credence to the contention of the Sharifs that they had committed no corruption and they were being victimized merely on hearsay and unfounded grounds.
While the BJP has managed 105 MLAs (including one Independent seat), they are still short of the halfway mark of 112 by seven MLAs and have been given 15 days to prove their majority in the Karnataka assembly by the Supreme Court.
Critique: An inherently fascinating read that is as informed and informative as it is thoughtful and thought-provoking, "We All Have Souls and I Think We Can Prove It" will prove to be an enduringly popular addition the personal reading lists of students, academia, and non-specialist general readers with an interest in the subject, as well as community and academic library Metaphysical Studies collections.
"It is a good opportunity for us to prove our leadership innocent.
If your car was in a company car park how can you prove it?
For Brownback, it's enough to just say you're from Kansas to prove you represent the values of the heartland.
The fact that professionals in both camps shared a similar language or borrowed metaphors from one another does not necessarily justify comparison or prove that they shared an ideology.
JJG: If a broker can prove in court that he or she was the "procuring cause" for a sale, or lease of real estate he will be entitled to a brokerage commission based on a percentage of the purchase price on a sale or based on a percentage of the rents in the event of a lease.
Gale took advantage of this characteristic to prove that there's always a way that the first player can win.
KOLO TOURE insists the IVORY COAST have nothing left to prove at this summer's World Cup.
Because CAT would have an expanded role as a homeland security prevention and response team, much additional training would prove necessary.