New Orleans officials are considering extreme measures to ensure nearly 5,000 city employees are paid through the rest of the year, after realizing that delays in federal grant payments are threatening the city's cash flow.
The City Council on Thursday is expected to vote on a measure requesting the state Bond Commission approve $125 million in short-term revenue bonds, otherwise known as payday loans for strapped city governments. But it's not clear if the revenue bonds can be approved and obtained before cash runs out. It could be months before the city sees any proceeds from revenue bonds.
City officials did not clearly say how much cash the city has on hand, and how many weeks of payroll it can cover, during an emergency 90-minute City Council meeting on Wednesday. Chief Administrati