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General Obligation Bond (GO)

What is a 'General Obligation Bond - GO'

A general obligation bond (GO) is a municipal bond backed by the credit and taxing power of the issuing jurisdiction rather than the revenue from a given project. General obligation bonds are issued with the belief that a municipality will be able to repay its debt obligation through taxation or revenue from projects. No assets are used as collateral.

Explaining 'General Obligation Bond - GO'

A general obligation bond is secured by an issuing government's pledge to use all available resources - even tax revenues - to repay holders of the bond.

Types of General Obligation Pledges

State law sets the grounds on which local governments can provide and issue general obligation bonds. A general obligation bond may either be a limited-tax general obligation pledge or an unlimited-tax general obligation pledge.


Further Reading


Comparative costs of negotiated versus competitive bond sales: new evidence from state general obligation bonds
www.sciencedirect.com [PDF]
… investors regarding the ex ante probability that an issuer will default on its debt obligations … the hypotheses generated in the last section, an empirical model of bond issuance was derived and tested on a sample of state government issued general obligation (GO) bonds …

Financing community facilities: a case study of the parks and recreational general obligation bond measure of San Jose, CaliforniaFinancing community facilities: a case study of the parks and recreational general obligation bond measure of San Jose, California
www.jstor.org [PDF]
… investors regarding the ex ante probability that an issuer will default on its debt obligations … the hypotheses generated in the last section, an empirical model of bond issuance was derived and tested on a sample of state government issued general obligation (GO) bonds …

Municipal financial reporting and competition among underwriters for new issues of general obligation bondsMunicipal financial reporting and competition among underwriters for new issues of general obligation bonds
onlinelibrary.wiley.com [PDF]
… investors regarding the ex ante probability that an issuer will default on its debt obligations … the hypotheses generated in the last section, an empirical model of bond issuance was derived and tested on a sample of state government issued general obligation (GO) bonds …

Management capacity and state municipal bond ratings: Evidence with the GPP gradesManagement capacity and state municipal bond ratings: Evidence with the GPP grades
journals.sagepub.com [PDF]
… investors regarding the ex ante probability that an issuer will default on its debt obligations … the hypotheses generated in the last section, an empirical model of bond issuance was derived and tested on a sample of state government issued general obligation (GO) bonds …

City size and geographic segmentation in the municipal bond marketCity size and geographic segmentation in the municipal bond market
www.sciencedirect.com [PDF]
… investors regarding the ex ante probability that an issuer will default on its debt obligations … the hypotheses generated in the last section, an empirical model of bond issuance was derived and tested on a sample of state government issued general obligation (GO) bonds …

Credit risk, credit ratings, and municipal bond yields: A panel studyCredit risk, credit ratings, and municipal bond yields: A panel study
www.jstor.org [PDF]
… investors regarding the ex ante probability that an issuer will default on its debt obligations … the hypotheses generated in the last section, an empirical model of bond issuance was derived and tested on a sample of state government issued general obligation (GO) bonds …

Is management performance a factor in municipal bond credit ratings? The case of Texas school districtsIs management performance a factor in municipal bond credit ratings? The case of Texas school districts
onlinelibrary.wiley.com [PDF]
… investors regarding the ex ante probability that an issuer will default on its debt obligations … the hypotheses generated in the last section, an empirical model of bond issuance was derived and tested on a sample of state government issued general obligation (GO) bonds …

Tax increment financing, economic development professionals and the financialization of urban politicsTax increment financing, economic development professionals and the financialization of urban politics
academic.oup.com [PDF]
… investors regarding the ex ante probability that an issuer will default on its debt obligations … the hypotheses generated in the last section, an empirical model of bond issuance was derived and tested on a sample of state government issued general obligation (GO) bonds …

Determinants of Pay‐as‐You‐Go Financing of Capital Projects: Evidence from the StatesDeterminants of Pay‐as‐You‐Go Financing of Capital Projects: Evidence from the States
onlinelibrary.wiley.com [PDF]
… investors regarding the ex ante probability that an issuer will default on its debt obligations … the hypotheses generated in the last section, an empirical model of bond issuance was derived and tested on a sample of state government issued general obligation (GO) bonds …

Financing new school construction and modernization: Evidence from CaliforniaFinancing new school construction and modernization: Evidence from California
www.jstor.org [PDF]
… investors regarding the ex ante probability that an issuer will default on its debt obligations … the hypotheses generated in the last section, an empirical model of bond issuance was derived and tested on a sample of state government issued general obligation (GO) bonds …


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