§ 70-415.272. Funding and purpose.

Notwithstanding any law to the contrary, for legal judgments rendered against the City of New Orleans resulting from state court orders, a fund shall be maintained, the minimum annual balance of which shall be $2,000,000.00 on January 1 of each fiscal year. This fund shall be dedicated solely to assisting in the payment of legal judgments rendered against the city by state courts. The fund shall be funded by revenues received from state court judgments rendered in favor of the city, excluding those relative to payment of taxes and fees; and proceeds of insurance settlements in favor of the City of New Orleans for liability and/or damages, excluding replacement costs and reimbursements; and supplemented by available revenues as needed to maintain the required balance as provided herein.

Expenditures from the fund shall be made through appropriations to the law department for the purpose of paying legal court judgments issued against the city, to be expended in a manner according to policy set by the law department and recorded properly for this purpose and use.

(M.C.S., Ord. No. 27543, § 1(70-415.269), 9-14-17, eff. 1-1-19)