JEFFERSON COUNTY, AL (WBRC) - After months of wrangling, the Jefferson County commission has agreed to make a $19-million bond payment. The money will go to investors who purchased the county sewer bonds and not the New York banks holding most of the debt.
The money comes from sewer revenues, with a trustee handling the transaction. A county attorney says without the trustee, the county could be asked to make accelerated payments. That means it would lose all of its funding in capital accounts. At that point, the county would have no money for sewer repairs or construction.