Type of general obligation bond secured by a promise to levy ad valorem property taxes, unlimited as to rate or amount, on all taxable property within the territorial limits of the issuer.
General Obligation (“GO”) Bond
Bonds issued by a governmental entity as the Issuer and are typically secured by the full faith and credit and general taxing power of the Issuer. In some jurisdictions, a governmental entity is restricted, or debt limitations are imposed, by state or local statutes, the state constitution, local charters or similar laws or regulations.
There are three primary categories of General Obligation Bonds:
A type of General Obligation (GO) Bond secured by limited taxing powers of the Issuer.
A type of general obligation (GO) bond not secured by a specific pledge of taxing power, and in which the issuer cannot be compelled to increase taxes.
All the Bonds
Learn more about the various types of municipal obligations you may encounter.
Evidence of the borrowing by an issuer and a debt instrument for tax purposes.
Compulsory charges levied by a governmental unit for the purpose of raising revenue.