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Encyclopedia of Municipal Bonds: A Reference Guide to Market Events, Structures, Dynamics, and Investment Knowledge by Joe Mysak

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E

elections

Voters are asked to approve tax initiatives, bond issues backed by their taxes, and various other initiatives and referenda year-round, although the majority of such proposals are voted on in November elections. The record year for bond proposals was 2006, when the country was in the midst of a boom and the suburbs of suburbs needed infrastructure. Voters were asked to approve $109 billion in bonds, and passed $90 billion of them, or 82.5 percent. That was also the record year for bonds on the November general election ballot; voters approved $69.6 billion of the $78.6 billion they were asked to consider.

The record year for bond approvals was 2004, when voters passed 90.7 percent of the issues they were asked about. The record year ...

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