GO Bonds and Risk

General obligation (GO) bonds and revenue bonds are the two most common categories of municipal securities. There are two types of GO bonds: unlimited tax and limited tax. The principal and interest payments of an unlimited tax GO bond are backed by the full faith, credit and taxing power of the issuer. Should the borrower default, ad valorem (property) taxes can be levied without limit or amount to satisfy debt service. Limited tax GO bond interest payments are restricted to a specific revenue stream or amount within a tax, and there may be no pledge to raise taxes if there is a revenue shortfall.

Consider the Risks of General obligation bonds

Bonds are subject to interest rate risk. When interest rates rise, bond prices fall; generally the longer a bond's maturity, the more sensitive it is to this risk. Bonds may also be subject to call risk, which is the risk that the issuer will redeem the debt at its option, fully or partially, before the scheduled maturity date. The market value of debt instruments may fluctuate, and proceeds from sales prior to maturity may be more or less than the amount originally invested or the maturity value due to changes in market conditions or changes in the credit quality of the issuer. Bonds are subject to the credit risk of the issuer. This is the risk that the issuer might be unable to make interest and/or principal payments on a timely basis. Bonds are also subject to reinvestment risk, which is the risk that principal and/or interest payments from a given investment may be reinvested at a lower interest rate.  Source:  Morgan Stanley

No one has considered the risk.