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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 ?
Then she went along and identified a body as being his and, for this small deception, received pounds 10,000 compensation.
So after another friend of ours backed out because he had a cold on that day, I went along with Oka."
Music throughout the ages was played - and those who went along were also able to enjoy a cup of tea and have a chat.
Lyndsay Latcham, 25, from Blaydon, Gateshead, who went along with sevenmonth-old Tia, is trying to promote breastfeeding to her friends.
And enough worship of John E Kennedy, a Cold Warrior who began the covert war in Indochina, went along with the planned invasion of Cuba, and was slow to act against racial segregation in the South.
If you went along to this expecting such hits as Don't Go from her days as one half of Yazoo, or All Cried Out, you'd have been disappointed.