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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 ?
Fry, the former heroin addict who went back to prison even though he had a job, received help through the North Lawndale Employment Network's U-Turn Permitted program.
"We went back a second time thinking that important constitutional issues needed clarifying," he said.
The intention--and we will have to lobby state by state--is that if I am on SSI and went back to work, I should be able to purchase Medicaid for an affordable price.
So, after years of feeling ignored, he went back home to California, thoroughly disgusted with Detroit.
She said yesterday: "We went back to the hotel and chatted for quite a while and that's all we did, honestly.
"Studholme claims he went back, but no-one knows that.
This is why it matters that Jesus, at age 12, went back home, back to Nazareth.
We agreed to set it up as a Canadian company, and so Robert went back to Galt and set the company up.
Frohlich went back to the data and looked for that.
If I went back in time, I would remember when my dad found my dog.
"I did well when I went back first and then did well at the start of the season, and then I just didn't have that hunger that I had and I think I maybe needed to go away to get that back.
BRAVE Sarah Barton went back to school yesterday after recovering from her second heart transplant.