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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 ?
The oldest prisoners, ages 56 and older, went back 23 percent of the time, the lowest recidivism rate, the data show.
In March, Miguel went back to New Orleans for the first time since the hurricane on a mission trip with about 15other students from Oaks Christian.
So, he went back to the people at the Philco Playhouse and pleaded with them again.
But her mind went back incessantly to the period of 1856-57, and she relived those years of triumph through her photographs.
We went back to Wyoming where the old Belco had its roots, and started a successful drilling program along the Moxa Arch.
So when Noah went back to Cameroon, they didn't know him as a basketball player in the United States.
They went back and recalculated and discovered that their productivity numbers had been wrong for months if not years.
We went back to the stuff that put us in this position and got us here in the first place,'' tailback LenDale White said.
When he went back down (to Salt Lake), we told him he's a good hitter, go to all fields, and that's what he did.
Northridge, unable to work its way inside, went back to the outside shot.
After seeing a recent Broadway revival of Laurents' play ``The Time of the Cuckoo,'' he went back to read ``Waltz'' and found a musical that - with some judicious tinkering - should yield a ``lovely, charming, simple show.