After hovering near the brink of insolvency for nearly three years, Alabama's Jefferson County finally has a plan to settle its $3.2 billion sewer debt and hopefully avoid the largest municipal bankruptcy in U.S. history.
In an interview with Birmingham's WBRC TV station, Jefferson County Commission President David Carrington said county officials had finalized a plan to present to creditors that includes a fixed-rate repayment plan with a fixed term, and would be backed by the state of Alabama's good credit.
Read the rest at Business Insider
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