The Finance Authority of New Orleans is a public trust created by the City Council of New Orleans in 1978 under the provisions of the Louisiana Public Trust Code. Since 1978, The Finance Authority of New Orleans has issued more than $550,000,000 of mortgage revenue bonds. Proceeds from these bond issues have been used to finance over 7000 new homeowners in the City of New Orleans. In addition to financing home mortgages, The Finance Authority of New Orleans provides tax-exempt bond financing for public facilities, facilities owned by non-profits, multi-family housing and all forms of community & economic development. The Finance Authority programs are authorized by the New Orleans City Council.