The City of New Orleans has been given the green light to secure a loan to help cover payroll for the end of the year.

This comes after city leaders met with the State Bond Commission on Wednesday, following a weekslong negotiating period for $125 million. Advertisement

Prior to the meeting, a Fiscal Review Committee met with Mayor-elect Helena Moreno, New Orleans Council President JP Morrell, and Budget Chair Joe Giarrusso to discuss the state of the city's finances.

Moreno told state leaders that she is committed to working collaboratively with the legislative auditor to determine how the budget crisis happened and ensure it never happens again.

According to Moreno, she and the council are having to "completely rebuild" the 2026 budget, touching on extreme cost-cutting measures as w

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