ATLANTA -- After a key New Orleans businessman urged the city to file for bankruptcy if the upcoming referendum on its general obligation bond refinancing fails, Mayor Sidney Barthelemy said Friday that he has no intention of using insolvency to solve the Big Easy's fiscal crisis.

Mayor Barthelemy's comments came two days after James R. "Jim Bob" Moffett, chairman of the city's largest company, Freeport-McMoran Inc., and key supporter of the refunding proposal, said the city faces "fiscal meltdown" and should declare bankruptcy if voters reject the refinancing.

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