Jeffco Commission talks with Wall Street stalling

JEFFERSON COUNTY, AL (WBRC) – The Jefferson County Commission President says that talks with Wall Street over the massive sewer bond debt have stalled.

On Tuesday, Commissioner Bettye Fine Collins told FOX6 News that she believes the talks have stalled due to the fact that a court-appointed receiver has taken control of the Jefferson County sewer system. Collins believes creditors want to see what kind of offer the receiver will offer them and they hope to make more money in the deal.

Collins says she plans to ask John Young, the sewer receiver, to come up with a recommendation. Young's proposal is expected to include a sewer rate hike.

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