This year's referendums on debt totaled nearly a third more than the $34.2 billion in debt on ballots during the presidential election of November 2012, according to data firm IPREO.
U.S. municipal bond issuers sold $17.2 billion in new paper in October, the most in 15 months, though total muni issuance is still lower for the year to date, according to Thomson Reuters data.
Voters in some states considered making fiscal and tax changes or voting on issues that could have an impact on the local budget.
Below were some of the biggest bond and fiscal measures, according to results reported early Wednesday.
CALIFORNIA WATER BOND - The Golden State approved the largest single bond referendum, a $7.55 billion water quality, supply and infrastructure improvement bond.
CALIFORNIA RAINY DAY FUND - Voters approved a measure requiring that surplus revenues be saved for the state government's rainy day fund or be used for emergencies, debts or budget deficits.
NEW YORK BOND - The $2 billion bond referendum for learning equipment and facilities, the second largest bond measure in the country, passed. It was the only bond measure on the state's ballot.
MASSACHUSETTS/RHODE ISLAND GAMING - Massachusetts voters upheld a 2011 law that paved the way for legal casino gambling in the state. They rejected a referendum that would have overturned the measure and stopped two planned casinos. The companies affected - Wynn Resorts Ltd
, Penn National Gaming Inc and MGM Resorts International - were granted licenses this year for casinos. In neighboring Rhode Island, statewide voters allowed the Newport Grand Slots casino in the city to include table games, but local voters rejected it, effectively blocking the gaming expansion. CALIFORNIA PRISONS – Voters passed a ballot initiative to reduce prison sentences for people who commit nonviolent crimes, including drug possession and petty theft. Supporters said the proposition would save up to $250 million annually in incarceration costs. TEXAS TRANSPORT - Voters approved a measure to use half the general revenue in its rainy day fund on transportation. It is estimated that $1.7 billion could be transferred to the state's transportation fund in the first year, according to a research note by Wells Fargo.OREGON EDUCATION - Voters rejected a measure that would have created a dedicated fund for Oregon college students to be financed with debt. The measure could have made Oregon the first state to have an ongoing investment trust fund for higher education by amending the state constitution, which has strict borrowing limits.MISSOURI BUDGETING AUTHORITY - Voters approved a constitutional amendment, put on the ballot by the state legislature, that restricts the governor's budget powers.FRACKING - A number of cities voted on fracking, including Athens, Ohio, where voters decided to ban fracking in oil and gas drilling. In Santa Barbara County, California, voters rejected a ban on fracking. In the city of Denton, Texas, voters approved a fracking ban. TENNESSEE - Voters amended the constitution to ban a tax on earned personal income and payroll. The state had only taxed interest and dividend income, not wages.GEORGIA - A constitutional amendment capped the state's income tax rate, which is currently 6 percent. The measure passed with nearly 74 percent of the vote.ARIZONA HOSPITAL BONDS - Maricopa County, Arizona, approved a $935 million bond for a new hospital and behavioral health facility. PHOENIX - Voters rejected a proposal funded in part by a hedge fund billionaire to convert the pension system for city workers to a 401(k) retirement plan favored by most private employers. In a big victory for labor unions, voters rejected Prop. 487, 56.5 percent to 43.5 percent. SAN BERNARDINO, CALIFORNIA - Voters in bankrupt San Bernardino decided not to scrap a budget rule that sets pay for police and firefighters based on salary levels in wealthier cities. SODA - Voters in Berkeley, California, overwhelmingly approved the nation's first ballot measure raising taxes on sugary drinks, despite heavy spending by the U.S. soda industry. The new law, approved by 75 percent of voters, will impose a tax of 1 cent per ounce on sugary beverages. NEW MEXICO - Voters amended the state constitution to raise New Mexico Land Grant Fund reserves to $10 billion from $5.8 billion and change some of the fund's investment practices. EDUCATION BONDS - College and school bond ballots that passed include: Boulder Valley School District, Colorado, seeking, $576.5 million; Katy Independent School District, Texas, seeking $748 million; Omaha Public School District, Nebraska, seeking $421 million and Broward County School District, Florida, seeking $800 million. Results were not immediately available from North Orange County Community College, California, seeking $574 million. TRANSIT BONDS - Transportation-related bonds that passed included San Francisco, seeking $500 million to construct transit and bike lanes.Results were not immediately available for Austin, Texas, seeking $600 million of bonds for urban rail transportation.Sources: Ballotpedia, Ipreo, National Conference of State Legislatures, state and local election websites (Reporting by Lisa Lambert, Megan Davies, Karen Pierog, Lisa Lambert, Hilary Russ, Robin Respaut, Tim Reid, Ed Krudy; Editing by G Crosse, David Gregorio Lisa Shumaker, Ken Wills and Jeffrey Benkoe)
