New Orleans should be able to pay city employees through the holidays.
The City Council voted unanimously on Wednesday to approve a bond sale to partially deal with the city's budget crisis.
Chase Bank will be allowed to sell $125 million in municipal bonds, which won't be enough to close the $160 million budget gap, but should help keep things afloat for a while.
The bond money must be repaid by the end of May, with 3.5 percent interest.
Next year's budget gap is projected to be even worse, so more bond sales may result.
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