Atlantic City to pay workers with IOUs as money crisis looms

Atlantic City plans to pay police, firefighters and other essential workers with IOUs when it runs out of money next month.

Christie holds firm on Atlantic City bailout bills

Christie holds firm on Atlantic City bailout bills (3/24/16)

TRENTON - Atlantic City plans to pay police, firefighters and other essential workers with IOUs when it runs out of money next month.

Mayor Don Guardian says essential workers have volunteered to show up for work between April 8 and May 2 without getting paid on time.

The mayor promises those workers eventually will be paid once the next batch of tax revenue starts coming in.

The financial condition of the gambling and tourism mecca continues to worsen as city and state officials argue over who is responsible and what to do next.

The mayor wants an $8.5 million temporary loan, but Gov. Chris Christie says the only solution is for the Legislature to pass two financial aid bills without any changes.

Christie says he will only sign the bills that he and Democratic Senate President Steve Sweeney agreed to as they were written. Christie says he needs to renegotiate city worker contracts to balance Atlantic City's budget.

Assembly Speaker Vincent Prieto asked the governor to keep negotiating. He is worried the state could potentially end collective bargaining agreements under the legislation.

The Associated Press wire services contributed to this report.

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