GENERAL OBLIGATION BOND Definition

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GENERAL OBLIGATION BOND (GO) is a municipal bond that represents the full taxing power of the issuing authority behind the repayment of principal and interest.

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COMPENSATING BALANCES are the funds a business might be required to keep in a deposit or reserve account to help offset what the bank perceives as risk. The lender might require that an amount based on the business' average account balance or a certain percentage of the face value of the loan be maintained in a deposit account.

OVERSTATED is when something is represented as greater than is true or reasonable.

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