Sewer debt solution unlikely for this year

By Alan Collins

BIRMINGHAM, AL (WBRC) - Jefferson County probably will not have a deal to solve its $3 billion sewer debt crisis. Today Jefferson County Commission President David Carrington addressed the Shades Valley Rotary Club and updated them on county business, which included Friday's trip to New York to meet with bond creditors.

Carrington said the meeting was more of a get-to-know-you rather than a discussion of any deals. Carrington told the club he is not expected to get a solution this year.

"I think everyone wants to get the issue behind them. But in all sincerity, we won't have audited statements for 2010 until September. It's not something I expect a settlement being announced by next week or next month," Carrington said.

In the past, Carrington has said the bankruptcy remains on the table as an option to force the creditors to accept a deal.

Copyright WBRC 2011. All rights reserved.