NEW ORLEANS — The State Bond Commission has approved the City of New Orleans’ request to sell $125 million in bonds to help cover payroll costs during an ongoing cash flow crisis.

“We received approval from the State Bond Commission to move forward with bridge funding through a banking institution to continue essential city services,” “This was critical as my incoming administration works on improving operational efficiencies.”

Moreno had emphasized that the funding will come from investors who purchase city bonds, not from the state itself.

City officials had warned that without the emergency funding, around 5,000 municipal employees could go unpaid, and key services, including garbage collection and senior programs, could be disrupted.

They initially requested approval for the bond s

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