Atlantic City finances

Financially strapped Atlantic City scraped together enough money to make a $1.8 million bond payment Monday morning, narrowly avoiding becoming the first New Jersey municipality to default on its debt in 78 years.

Atlantic City's emergency manager is recommending spending cuts, consolidation and privatization of some governmental functions as a way to get the financially struggling gambling resort back on its feet.

Atlantic City's elected officials mixed compliance with defiance Wednesday as they struggled to respond to a threatened state takeover of the city's finances.