General Obligation Bonds (GO Bonds), allow the City to borrow money in order to finance long term investments in City assets such as the many improvement projects of the Better Denver Program.
GO Bonds are backed by the full faith and credit of the City and are payable from ad valorem (property) taxes. Denver voters authorized up to $550 million in November 2007 to the Better Denver GO Bonds. The bonds will be issued in vario us amounts and over several years to accommodate the program’s financing needs.
The City, as the authorized issuer of the GO Bonds, pays interest and principal at fixed intervals, and the Bonds have a specified maturity date whereby all the principal and interest is repaid. General Obligation Bonds are typically issued in $5,000 increments.