Jeffco commissioners make deal with one creditor - WBRC FOX6 News - Birmingham, AL

Jeffco commissioners make deal with one creditor


Jefferson County Commissioners voted on Thursday for an agreement with one of their major creditors which will help the county exit bankruptcy even quicker.

The commission agreed to a deal with a Dublin, Ireland based bank. The bank holds much of the county's warrants used to fund the almost a billion dollars worth of school construction.

With a lower interest rate, Jefferson County is expected to pay off its debt for the school warrants sooner and to get a plan to get out of bankruptcy.

"This is a significant step forward for the education sales tax part of the debt. We need to get at least one consenting class but our goal is to get every consenting class," David Carrington, Jefferson Co. Commissioner said.

The county's largest creditors remain those holding the warrants for the more than $3-billion sewer warrants. The county remains in constant talks with those creditors.

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