New Jersey

Atlantic City officials are gearing up to fight a possible state takeover after New Jersey rejected the city’s five-year fiscal recovery plan.

New Jersey has rejected Atlantic City's proposed financial recovery plan, setting the stage for a possible state takeover and raising more doubts about the junk-rated city's ability to service its bond debt.

An Atlantic City default may be imminent if New Jersey rejects the city's five-year rescue plan next week, according to Moody's Investors Service.

The New Jersey Transit Board of Directors approved a new $3.8 billion fiscal plan Wednesday that includes new purchases for equipment and safety infrastructure.

Atlantic City Mayor Donald Guardian said he is optimistic that the city's turnaround efforts will be accepted and a state takeover averted.

Growing disconnects between state and local governments across the U.S. are especially impacting municipalities in the neighboring Northeast states of New Jersey and Pennsylvania, panelists emphasized at the The Bond Buyer’s Mid-Atlantic Municipal Market conference Tuesday.

Atlantic City officials unveiled a five year financial rescue plan Monday night that they hope will be enough to prevent a state takeover.

Princeton University’s settlement to end litigation claiming it should pay property taxes on certain Princeton, N.J. properties is a credit positive for both the school and the local government, according to Moody’s Investors Service.

A master plan approved by Rutgers University last year to expand and upgrade the infrastructure of New Jersey’s flagship public higher education institution by 2030 is already taking shape.

The Transportation Department fast-tracked the Hudson Tunnel replacement portion of the $24 billion Gateway Program.

New Jersey’s 23-cent gas tax hike, and its offsetting tax cuts in other areas, will help the state’s current 2017 operating budget at the expense of raising budgetary pressure for 2018 and beyond, according to S&P Global Ratings.

The New Jersey Transit’s fiscal management and safety infrastructure will be scrutinized at New Jersey Senate hearings in the wake of a Sept. 29 Hoboken, N.J. train crash that killed one woman.

The offsetting tax cuts New Jersey lawmakers accepted to get Gov. Chris Christie to accept a gas tax increase for transportation are credit negative for state finances, according to Moody’s Investors Service.

Though Atlantic City has violated a term in a $73 million state bridge loan, New Jersey’s Local Finance Board won’t require the struggling city to immediately repay the debt.

Three months after ordering a shutdown of most New Jersey road and transit projects, Republican Gov. Chris Christie and leaders of the legislature’s Democratic majorities forged an agreement to fund the state’s Transportation Trust Fund through a gas tax hike.

Atlantic City is in danger of missing it November debt service payment after it violated a term of a state bridge loan, according to Moody’s Investors Service.

The Port Authority of New York and New Jersey is plotting a return to its transportation roots, though unraveling its real estate tangle may be difficult.

A New Jersey appellate court rejected an effort to block a $1.15 billion bond sale to complete the long-stalled American Dream shopping and entertainment development at the Meadowlands.

Atlantic City has reached an agreement to sell its old municipal airport property to its water utility in a deal that city officials hope will help it avoid a state takeover.

Atlantic City is now starring at a possible default by early October after New Jersey’s Local Finance Board rejected the distressed city’s request for a reprieve after violating a term of a $73 million bridge loan.