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The City of New Orleans

Mayor Mitchell J. Landrieu

Board of City Trusts

Contact Information

Phone:(504) 658-1854
Board address:

City Hall
1300 Perdido Street
New Orleans, Louisiana 70112
 

Purpose

The Board of City Trusts:

  • Safeguards and administers the investment of all money and other movable property and administers all revenue producing immovable property:
    • Held by the City as trustee or otherwise for public or charitable purposes and
    • Held by the City for the perpetual care of plots in City owned cemeteries;
  • Maintains the immovable property under its jurisdiction through prudent expenditure of the revenues thereof or, with the approval of the Council, through other means;
  • Adopts as a regulation an investment list that fulfills the standards of prudence then applicable to private trusts;
  • Recommends to the Mayor and the City Council the acceptance or rejection of any trust or conditional donation offered to the City;
  • Supervises the maintenance by the Director of Finance of appropriate separate accounts for each trust fund and each trust proceeds fund;
  • Authorizes withdrawals from trust funds and trust proceeds funds;
  • Advises the Mayor and City Council on all matters relevant to the execution, disposition or modification of trusts and conditional donations; and
  • Reviews periodically all trusts and conditional donations and recommends to the Council the advisability of abandoning any or all of them.

Composition

Eleven members.

  • The Mayor;
  • The President of the City Council;
  • The Director of Finance (who serves as Treasurer); and
  • The Mayor appoints eight members with the approval of the City Council, of which two each are from the professions of investment banking, law, and accounting and two at large.

Term Length

Eight years.

(Created by: City Charter 4-1801, et seq.)

 
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Last updated: 7/18/2012 3:32:12 PM

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