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Louisiana and New Orleans reach tentative framework for a $125M loan.

Plan avoids fiscal administration but adds state oversight on spending.

Legislative Auditor Mike Waguespack would monitor fund disbursement.

Final details expected at Nov. 12 Fiscal Review Committee meeting.

Louisiana Treasurer John Fleming said Wednesday the state has a tentative plan to move forward on New Orleans’ request to borrow $125 million without taking over the city’s finances.

Talks between the two governments restarted a week after the city pulled its request to sell $125 million in state-issued bonds to pay its bills, a plan criticized by Gov. Jeff Landry , who said the city should agree to a fiscal administrator in return for the loan.

“We have a framework,” Fleming told The Ce

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