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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 ?
On a Thursday a plumber went round and cut off the toilet facilities.
"The upshot was that on the following Sunday afternoon Wray went round to the builder's house and a severe argument broke out."
'Then I went round the back and climbed on to the sloping roof and tried to break the windows with a spade - but it was just too hot.
"They just went round throwing things about and overturned office tables and a bed."
"Unfortunately, these youths returned to the hostel high on drugs and for no reason went round smashing the place up."
After his opening day six under par 65, Bebb could only manage a level par 71 to lose ground on English leader Andrew Butterfield who went round in 69.
When he was there, his work rang for him so I went round. It took her a long time to answer the door and when she did, she was in her dressing gown.
He went round to our son's house and he and his wife are now on at me to take him back as they say they believe him.
A number of hopefuls also went round before racing on Friday including Linda Jones's Kinda Wild (28.88sec) and Videx third Kinda Spooky (29.12sec).
The woman went round to her neighbour's property in Eld Road, Foleshill, Coventry, at about 7.30pm but no-one answered the door.
"The phones haven't stopped ringing since King went round and prospective buyers are talking some serious money, but at present he's not for sale."
Boyd, 37, described how he went round a bend and saw two cars moving away from each other after colliding.