New Orleans is taking more steps to stabilize its budget.
Already, the city has taken out a loan, furloughed workers, eliminated hundreds of government jobs, and sold several years worth of lease payments from Caesar's Casino to improve the city's finances.
"Ultimately, we're going to get out of this in 2027, but things need to still happen for us," Moreno told WWL's Newell Normand.
"One final loan, from a banking institution, not the state of Louisiana, but the bond commission has to approve it," she said, "to cover us for the end of the year, beginning of next year, and then we will be out of it."
The city wants to borrow another $110 million.
"This financing package steps us away from immediate crisis-response revenue anticipation notes over the past six months into a cheaper, more advantageous option," said Moreno.
The plan has the backing of Louisiana Legislative Auditor Mike Waguespack.
"This latest financing arrangement is evidence that their management has helped move the city out of a critical stage and towards sustainability and fiscal health. I'm glad to see it and support their approach," said Waguespack.
