New Orleans can make payroll, but vendor payments in question

• The council was previously prepared to use rainy day funds to cover an estimated $3 million gap for payroll.
• It's unclear whether the council will vote to unlock the protected fund to pay vendors.
• Some vendors are getting paid already, while other payments are paused, council vice president Helena Moreno says.

Meanwhile, the council finalized the paperwork Wednesday for $125 million in revenue anticipation bond notes.

• JPMorgan Chase is issuing the bonds at a 3.5% interest rate. The funds are expected to be deposited in the city's bank account Friday morning.

What's next: Each department must submit payroll, overtime and expense requests to the council, which will review them weekly.

• The new process is meant to improve fiscal oversight and transparency.