Alabama’s debt crisis gets dirty

Jefferson County is on the brink of the biggest local government default if it does not reach agreement on its USD3.2 billion sewer bond.

Commissioners for Alabama’s most populous county have voted against filing the largest municipal bankruptcy in US history.

The Jefferson County Commission narrowly rejected a bankruptcy proposal on a 3-2 vote on 14 October, just days after negotiating a renewed standstill agreement on the servicing of bonds that went sour in the credit crunch.

Jefferson County’s sewer debt crisis ...

Subscription required

To read this full article you must be subscribed to Global Water Intelligence.
Subscribe Now, Sign up for a Free Trial or Log In