NEW ORLEANS (WVUE) -The Sewerage and Water Board avoided defaulting on bills for 2018 by shuffling federal money around and borrowing money allocated for drinking water and sewage.
According to our partners NOLA.com | The Times-Picayune, the S&WB still owes money to vendors.
In order to repay what it borrowed, it will have to use about half of the money it collects from property and drainage.
That means it will have no additional money for drainage repairs in 2019.
The board hopes the city and state will approve $40 million in new debt in order to pay for this year’s drainage work, according to the report.