New Orleans City Council may use rainy-day fund for payroll, amid state loan process
The New Orleans city council deferred the vote on the bond sale due to documents in the process of being finalized, but introduced a new ordinance to ensure payroll is in good standing until the $125 million loan comes in.
NEW ORLEANS (WGNO) — Big changes are being made when it comes to the city of New Orleans' finances. The city council is creating some new rules in an attempt to prevent future deficits. Council President JP Morrell has introduced an amendment to the home rule charter, which, if approved by…
NEW ORLEANS (WGNO) — In an attempt to address the city's $160 million deficit, the New Orleans City Council passed an ordinance to create a dedicated fund to account for money provided by the bond commission, if it approves the city's $125 million loan request. Councilman Joe Giarrusso says this will…
NEW ORLEANS (WGNO) — Gov. Jeff Landry is calling on the Bond Commission to deny the city's request for a loan. Just last week the New Orleans City Council approved a request for a $125 million state bond to cover payroll. This is to ensure city workers are paid for the…