STATE TO LEND $40 MILLION TO ATLANTIC CITY

A proposed bond sale by Atlantic City is no more, they are going to borrow $40 million from the state. The city will have until March 31 to pay back the loan at a 0.75 percent interest rate. The city still wants to go through with a bond sale in the first part of the new year to help pay down some of the property tax appeals won by some of the casinos in the resort.