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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 ?
In an effort to keep his licence, Ellison went round his local pub asking people to lie for him by claiming they were driving at the time.
I went round to complain but his mother said I was just a busybody with nothing better to do than moan.
Paul Casey also went round in 69 to hold on to third place, ahead of Rory McIlroy, who made four straight birdies en route to a round of 68 that gave him a share of fourth place with Hunter Mahan.
The members of the delegation went round the Museum in which antiques found from the ruins were preserved and put on display.
Hall, in only her second season on Tour, went round the tough Portmarnock links in 69 to finish the day three under par.
Railwayman Ben Wray went round the bend when toilet facilities at his new home were cut off for four days, a court heard today.
A baby had a miraculous escape when a pushchair was flung from a bus when it went round a roundabout.
Plays scheduled to be featured include: ``Before the World Went Round,'' written by Dan Smith and directed by Delbert Highlands; ``The Date'' by Romy Jacobson, directed by Alissa Welsch; and ``Home Fires'' by Belinda Paschal, directed by Roemer.