ATLANTIC CITY, N.J. (AP) – A busload of Atlantic City officials and residents is on its way to the state capitol in Trenton to oppose a planned state takeover of the seaside gambling resort’s finances.
Mayor Don Guardian says Atlantic City is inching closer to bankruptcy every day that the state refuses to help.
He notes Gov. Chris Christie has twice vetoed a bill to help the casinos with their taxes and the city with tax appeals.
That bill will once again be considered in a state Senate committee Thursday, along with a state takeover bill that would give the state the right to break contracts and sell off city assets to help get Atlantic City’s troubled finances under control.
Moody’s says that Atlantic City will run out of money in the next few weeks if the two measures aren’t approved.
Copyright 2016 The Associated Press.
