NEW ORLEANS (WGNO) — New Orleans Mayor Helena Moreno made the decision Thursday, July 9, to withdraw the city application for an upcoming State Bond Commission meeting.
According to City of New Orleans officials, the application sought the Bond Commission’s approval for the city to obtain a temporary loan from a private financial institute.
New Orleans officials announce step toward city’s budget stabilization
The loan was was slated to help “maintain city services” as the administration implemented a financial recovery plan. Moreno warned that some state leaders may pursue punitive actions aimed at the city and it’s finances.
Moreno said she made the decision to withdraw because it became clear that “denial was imminent.”…