Under the glare of bond rating agencies and banks, Scranton, Pa., Mayor Chris Doherty submitted a $130.2 million budget that would close a $20 million gap largely by raising property taxes nearly 50%, plus steep hikes in parking rates and fines, and garbage collection fees.

Doherty, about to leave office after 12 years as mayor, submitted the fiscal 2014 spending plan late Friday, a week after Moody's Investors Service said Scranton, which it does not rate, could default. Moody's said that without a balanced budget, Janney Montgomery Scott and Amalgamated Bank might withdraw planned debt financings.

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