TRENTON — After months of arguments and uncertainty, Gov. Chris Christie's administration on Wednesday was granted the authority to immediately seize control of financially distressed Atlantic City.
The state Local Finance Board voted 5-0 to approve a five-year state takeover of the local government in the seaside gambling resort — an effort Christie says is the best way to keep the city from becoming the first New Jersey municipality since 1938 to go bankrupt.
The decision gives the state the power to assume key functions usually controlled by local leaders: renegotiating union contracts, hiring and firing employees, selling city assets, reversing decisions of the city council, and more.
Entire article at
http://www.nj.com/politics/index.ssf/2016/11/christie_administration_can_now_take_over_atlantic.html
1 comment:
Its long overdue since the Mayor hasn;t been serious about any real cuts. They renigned on the agreement regarding releasing the water company and spent every cent of the bridge loan. They tried a shell game by planning to sell Bader field back to themselves through the water company. Guardian has the mentality that the state and the taxpayers must keep funding their budget. He;s a liar and a schemer and everybody but the media has had enough of this drama.
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