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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.
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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 ?
A third (33%) of thefts after the clocks went forward last year were categorised as opportunistic, compared with a quarter (24%) in the gloomier winter months, when burglars often force entry under cover of darkness, it found.
Once input and approval was received from the customer, Atchison went forward with finite element analysis (FEA) tests to make sure the castings met the specifications, which included a minimum tensile strength of 75,000 psi, a minimum yield strength of 48,000 psi, elongation not less than 25% in 2 in.
In 2003, 265 men went forward for ordination compared to 240 women, but in 2004 the number of women ordinands was virtually the same as the number of men: with 284 men compared to 280 women.