Alabama
(2011-08-22)
BIRMINGHAM, AL
(APR - Alabama Public Radio
) -
Jefferson County officials this week will resume efforts to reach a settlement with Wall Street creditors over their $3.14 billion sewer debt crisis.Commission President David Carrington and Commissioner Jimmie Stephens will represent the county in the latest talks with sewer creditors in efforts to reach a financing agreement by Sept. 16. Up to now, Gov. Robert Bentley's administration and court-appointed sewer system receiver John S. Young have handled talks to settle the debt and avert a Chapter 9 bankruptcy filing.
Carrington says he plans to focus on working for an agreement on acceptable terms and conditions.
Sewer rate increases remain one of the sticking points. Commissioners have said they can't live with the proposed 25 percent increases over an 18-month period under the creditors' plan.
(Copyright 2011 by The Associated Press. All Rights Reserved.) © Copyright 2013, APR - Alabama Public Radio
