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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MARKETABILITY is the ability to quickly convert assets to cash at minimal cost.

REVENUE ANTICIPATION NOTE (RAN) is a note sold by mu­nicipalities as a temporary financing pending the arrival of certain revenues, which are then used to payoff the note. Usually the income on these notes is exempt from federal income taxes.

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