Voters Pass at Least $32 Billion of Local-Debt: Muni Credit
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U.S. voters from California to Florida passed at least $32.1 billion of bond issues with interest rates on municipal debt close to the lowest since the 1960s.
Local governments sought approval for about $37 billion of borrowings yesterday, 45 percent less than in 2008. It’s the sharpest drop in six decades for a presidential election year. Votes tallying about $4.8 billion were either rejected or are still pending, according to New York-based Ipreo, a financial-market information provider.