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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 ?
Thirty-four percent of Zimbabweans tell Gallup they have electricity in their home, and out of those, 92% say they went without electricity in their home either many times (49%) or several times (43%).
My father died when my mother was pregnant and I was three years old - yet we never went without.
Census Bureau, over 43 million Americans went without health insurance last year.
Last year we made a modest profit of pounds 3,500 but only because players again went without pay."
We often went without food and heat, as we had a coal fire, very often not having money for coal, or gas and electric meters.
SEVEN in 10 households went without heating this winter to cope with the energy affordability crisis, according to research.