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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 ?
The explosives went off before they could be used for an attack, leaving at least two of them dead and two others wounded, Khaama Press, reported, citing, the Afghan Military, as saying.
The source noted that the number of victims of the car bomb, which went off in Abu Dshir area, south of Baghdad, rose to four killed and 15 wounded.
Pangandigan said that Kandang was working on a farm owned by the late Guintem Ganotan Ubas, some 30 meters away from a CAFGU detachment in Barangay Fort Pikit, Pikit, when a bomb went off.
"All the people were corralled into the car park area where subsequently the sprinkler system went off and wet them.
The low-intensity bomb, containing pieces of iron and ball bearings, went off as hundreds of worshippers prayed, lightly injuring one person.
Two people killed and three others wounded when an IED went off in Shurta neighborhood, Southern Baghdad, a police source told the National Iraqi News Agency on Tuesday evening, adding that the explosion damaged nearby houses too.
The explosions went off near a station where locals board rickshaw taxis, located outside the customs building, witnesses said.
The worst violence came in the southern city of Kut, 100 miles from Baghdad, where twin explosions went off as building workers were gathered in a market selling generators and other appliances.
"Another IED emplaced on the roadside near al-Kindi hospital intersection in central Baghdad went off, injuring a traffic policeman and a civilian and damaging some passing vehicles," he added.
An explosion went off at a gas terminal in Egypt's northern Sinai Peninsula on Saturday.
Summary: Lindsay Lohan could face jail as her alcohol ankle-monitor alarm went off after the MTV Movie Awards in L.A.
Three occupants of the house on Garside Drive evacuated the property before the fire brigade arrived when smoke alarms went off. The cause is being investigated.