DALLAS — The Louisiana State Bond Commission gave its approval Thursday to a plan by New Orleans to avoid a budget shortfall in 2012 with a $16.5 million refunding.

Andrew Kopplin, the chief administrative officer in Mayor Mitch Landrieu’s administration, told commissioners that refunding the $75 million of certificates of obligation from 1998 would push $15 million of debt service into 2013.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.