State will not allow city to finance $1 million shortfall over 5 years
'The city manager ... ultimately bears responsibility for an inadvisable decision'
By Molly Mulshine
The Division of Local Government Services [DLGS] has decided the state’s Local Finance Board will not allow Asbury Park to bond $1 million to cover a shortfall in the budget, as detailed in a three-page letter addressed to the mayor and members of the city council as well as city manager Terence Reidy. Instead, the […]
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Oct 16, 2012
