The Board of Liquidation, City Debt is a separate entity from the City of New Orleans, established in 1880 by the Louisiana Legislature. It has exclusive control over the issuance and repayment of the city's general obligation bonds, ensuring a dedicated source and security for bond payments. The Board acts as custodian for various agencies and is responsible for collecting taxes and fees to meet debt service obligations.
With a strong track record of never defaulting on bond payments, the Board has the authority to levy and collect taxes if necessary. It also serves as custodian for several entities, including the Sewerage Water Board, Downtown Development District, and Audubon Institute, among others. The Board's primary focus is maintaining the financial stability and repayment of New Orleans' general obligation bonds.
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