They got away with it, and suffered minimal damage. Phase I of Operation: Cut the Heart Out of NYC is complete. 29 City Council Members voted to extend term limits, and here's the breakdown on those races (as of 9/16):
20 Won (8 ran unopposed)
4 Lost (and probably would have lost without the term limits issue)
3 are still undecided
1 Runoff in the Comptroller's race
1 Indicted
If these results represent the wrath of the voters, New Yorkers will have to become Dawn of the Dead zombies to beat Bloomberg in November.
M.del Carmen Arroyo (17-Bronx) Won (No Opponent)
Maria Baez (14-Bronx)
Leroy Comrie (27-Queens) Won
Inez Dickens (9-Manhattan) Won
Erik Martin Dilan (37-Brooklyn) Won (No Opponent)
Simcha Felder (44-Brooklyn) Won (No Opponent)
Lewis Fidler (46-Brooklyn) Won (No Opponent)
Helen Foster (16-Bronx) Won
Alan Gerson (1-Manhattan) Lost
Sara Gonzalez (38-Brooklyn) Won
Robert Jackson (7-Manhattan) Won
Melinda Katz (29-Queens) Lost (Comptroller)
G. Oliver Koppell (11-Bronx) Won
Miguel Martinez (10-Manhattan) Indicted
Darlene Mealy (41-Brooklyn)
Michael Nelson (48-Brooklyn) Won
Christine Quinn (3-Manhattan) Won
Domenic Recchia (47-Brooklyn) Won (No Opponent)
Diana Reyna (34-Brooklyn) Won
Joel Rivera (15-Bronx) Won (No Opponent)
James Sanders (31-Queens) Won
Larry Seabrook (12-Bronx) Won
Helen Sears (25-Queens) Lost
Kendall Stewart (45-Brooklyn) Lost
James Vacca (13-Bronx) Won (No Opponent)
Al Vann (36-Brooklyn) Won
Peter Vallone, Jr (22-Queens) Won (No Opponent)
Thomas White (28-Queens)
David Yassky (33-Brooklyn) Runoff (Comptroller)