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Type:
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Report
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Status:
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Consent Agenda
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On agenda:
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8/21/2025
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Final action:
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Title:
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REPORT - FROM JONATHAN T. HARRIS, CHIEF OF STAFF TO THE CHIEF ADMINISTRATIVE OFFICER, CITY OF NEW ORLEANS
Brief:
Submitting the Unpaid Judgment Funding Plan required by Ordinance Number 30,030 M.C.S., which is being provided because there are judgments on the City’s Unpaid Judgment List (“UJL”) that have not been paid after following the preceding steps required by the ordinance. As of December 31, 2024, the total principal amount reflected in the list was $89,287,152.45, reflecting 444 outstanding judgments and an amount roughly equal to eleven percent of the City’s annual General Fund budget, Ord. No. 30,030 M.C.S., requires the Chief Administrative Office to provide a funding plan for satisfying the remaining outstanding principal balance of the UJL in full by the end of 2027. This funding plan proceeds as follows: first, it will examine the provisions of Ord. No. 30,030 M.C.S. and the current state of the UJL. Second, it will highlight the challenges of using the City’s General Fu...
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Title
REPORT - FROM JONATHAN T. HARRIS, CHIEF OF STAFF TO THE CHIEF ADMINISTRATIVE OFFICER, CITY OF NEW ORLEANS
Brief:
Submitting the Unpaid Judgment Funding Plan required by Ordinance Number 30,030 M.C.S., which is being provided because there are judgments on the City’s Unpaid Judgment List (“UJL”) that have not been paid after following the preceding steps required by the ordinance. As of December 31, 2024, the total principal amount reflected in the list was $89,287,152.45, reflecting 444 outstanding judgments and an amount roughly equal to eleven percent of the City’s annual General Fund budget, Ord. No. 30,030 M.C.S., requires the Chief Administrative Office to provide a funding plan for satisfying the remaining outstanding principal balance of the UJL in full by the end of 2027. This funding plan proceeds as follows: first, it will examine the provisions of Ord. No. 30,030 M.C.S. and the current state of the UJL. Second, it will highlight the challenges of using the City’s General Fund or Judgment Fund to pay such a high dollar amount with existing recurring revenue sources. Next, it will survey alternative solutions such as issuing new debt or using other funding sources. Then this funding plan will recommend a path forward that enables the City to have the resources available to pay off the UJL, in full, by the end of 2027.
Annotation:
RECEIVED.
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