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NOLA secures state approval for $125M loan needed to pay city workers, fund operations
Posted on 11/12/25 at 2:58 pm
Posted on 11/12/25 at 2:58 pm
LINK
quote:
New Orleans' officials secured state approval Wednesday to sell $125 million in short-term bonds to ease its cashflow crisis and cover payroll for nearly 5,000 city workers through the end of the year, marking a major victory for Mayor-elect Helena Moreno as she prepares to take office.
The approval from the State Bond Commission came after Moreno and other council leaders agreed last week to give Legislative Auditor Mike Waguespack veto power over how the bond proceeds are spent.
New Orleans also averted a state-led takeover of city operations — at least for now — after a state panel earlier in the day opted not to recommend the installation of a fiscal administrator following assurances from Moreno and her council colleagues that measures are being taken to right the city's finances.
quote:
Moreno, who takes office on Jan. 12, said her transition is working on a budget proposal for next year and exploring "every type of cost-cutting measure possible to ensure that we have a more efficient and operational government moving forward." That will include cutting some of 660 unclassified positions at City Hall, she said.
Moreno said the budget proposal that Mayor LaToya Cantrell unveiled in October isn't "workable." The council must approve next year's budget by Dec.
8
Posted on 11/12/25 at 3:06 pm to Major Dutch Schaefer
Bonds will be worth slightly more than TEMU branded toilet paper.
Posted on 11/12/25 at 3:08 pm to Major Dutch Schaefer
How about you fire a bunch of the worthless city employees?
Posted on 11/12/25 at 3:10 pm to Major Dutch Schaefer
That money is never getting paid back
Posted on 11/12/25 at 3:19 pm to Major Dutch Schaefer
sounds more like robbery than a loan.
Posted on 11/12/25 at 3:21 pm to Major Dutch Schaefer
It’s s as good thing that New Orleans hosted the Super Bowl!
Posted on 11/12/25 at 3:24 pm to Major Dutch Schaefer
NO should be one of the richest cities in the US with its commerce. It’s Sad.
Posted on 11/12/25 at 3:35 pm to KingOrange
NOLA always getting that special treatment
Posted on 11/12/25 at 3:36 pm to doubleb
quote:
It’s s as good thing that New Orleans hosted the Super Bowl!
Where the frick did all that tax revenue go? You know how much money was spent in the city that week?
Posted on 11/12/25 at 5:55 pm to Major Dutch Schaefer
She said that she would not turn over authority to the state. Sounds like she just did that.
Posted on 11/12/25 at 6:20 pm to KingOrange
quote:
NO should be one of the richest cities in the US with its commerce. It’s Sad.
When I lived in NO 25 years ago, according to our marketing dept, 11 million people visited the city and the money spent "rolled" five times in the economy. Meaning, you spent money at a bar and that paid the beer guy and the bartender, and the owner who then spent it buying groceries, at the market, etc.
That is billions of dollars. How that place is not pristine clean, with incredible policing is beyond disbelief.
When is the last time they had a mayor that did not go to prison or was not investigated for corruption???
Posted on 11/12/25 at 6:30 pm to trinidadtiger
quote:
How that place is not pristine clean, with incredible policing is beyond disbelief.
Because of everything we "love" about New Orleans.
Posted on 11/12/25 at 6:34 pm to Major Dutch Schaefer
quote:
NOLA secures state approval for $125M loan needed to pay city workers, fund operations
They paid that to NOLA??
How soom before they request another loan because the first one didn't even pay 1/3 of city workers? 
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