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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 ?
I'm going to go in and sell this contract this afternoon." They didn't like it, but I told them, "If you want me to stay here, I've got to take control of this thing and it's going to be under my terms, and here they are."
That's one of the reasons why I don't think these changes are going to go away no matter what country tries to impose some kind of regulatory scheme.
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The Humanist: What made you want to go to Iraq to write in the first place?
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"When there are alternative places for money to go, the money will go into those places and banks will tighten up their lending [standards.]"
We were cumbersome, we were in a Cold War configuration, we were ready to go to, and this is what we practiced, we practiced going over to Germany and fighting 100 Warsaw Pact divisions across the North German Plain, or going over the Pacific and dealing with a Korean scenario.