Jeffco leaders still waiting on creditors over debt solution

JEFFERSON COUNTY, AL (WBRC) - Debt negotiations continue in Jefferson County today. The county commission and bankers are mulling over a deal to help with the county's $3 billion sewer debt.

Last Thursday, county commissioners were expected to decide whether to file bankruptcy to try and put an end to the county's sewer debt crisis. At the last minute, the county's creditors came up with a counter-proposal and commissioners decided to delay their decision until this week to see if they and their bankers can reach a settlement out of court.

The county wants bankers to forgive more than a billion dollars of the debt and limit the size of rate increases.

The next big vote could come Thursday.

Copyright 2011 WBRC. All rights reserved.