Jefferson County bankruptcy http://apr.org en After Emerging From Bankruptcy, What's Next For Jefferson County? http://apr.org/post/after-emerging-bankruptcy-whats-next-jefferson-county <p></p> Thu, 05 Dec 2013 22:42:33 +0000 Ryan Vasquez 42775 at http://apr.org After Emerging From Bankruptcy, What's Next For Jefferson County? Jefferson County Emerges From Bankruptcy http://apr.org/post/jefferson-county-emerges-bankruptcy <p></p><p>Jefferson County has closed the sale of nearly $1.8 billion in new debt and emerged from the nation's second largest municipal bankruptcy.</p><p>Jefferson County Commission President David Carrington said the paperwork on the new debt was signed Tuesday. Commissioner Jimmy Stephens said a great weight has been lifted.</p> Tue, 03 Dec 2013 22:10:38 +0000 The Associated Press 42638 at http://apr.org Jefferson County Emerges From Bankruptcy Ala. Judge Approves Jefferson Co. Bankruptcy Exit Plan http://apr.org/post/ala-judge-approves-jefferson-co-bankruptcy-exit-plan <p></p><p>A federal judge has approved Jefferson County's plan to exit the second-largest municipal bankruptcy in U.S. history.</p><p>Bankruptcy Court Judge Thomas Bennett said Thursday he's approving the county's plan to cut and refinance its debt.</p><p>The county filed for bankruptcy in November 2011, citing more than $4 billion in debt. It was the nation's largest municipal bankruptcy until Detroit filed this year for $18 billion.</p><p>The bulk of Jefferson County's debt was more than $3 billion from sewer construction.</p> Thu, 21 Nov 2013 22:53:06 +0000 The Associated Press 42016 at http://apr.org Ala. Judge Approves Jefferson Co. Bankruptcy Exit Plan Jefferson County Aims To Exit Bankruptcy http://apr.org/post/jefferson-county-aims-exit-bankruptcy <p>The effort to sell $1.7 billion in refinanced Jefferson County sewer warrants begins this week with presentations by local officials in Birmingham and New York.</p><p>Jefferson County Commissioner Jimmie Stephens says the milestone means that the county "is alive and well and beginning to kick again."</p><p>The presentations come one week after the Jefferson County Commission approved modified deals with sewer creditors. The county's path to exit Chapter 9 bankruptcy relies on the sale of new sewer system warrants to replace soured debt.</p> Mon, 04 Nov 2013 21:47:48 +0000 The Associated Press 40973 at http://apr.org Jefferson County Aims To Exit Bankruptcy Jefferson County Approves Budget http://apr.org/post/jefferson-county-approves-budget <p>Jefferson County commissioners have approved a more than $463 million budget presented by County Manager Tony Petelos.<br><br>&nbsp;&nbsp; The commission approved the budget on Tuesday.<br><br>&nbsp;&nbsp; WBRC-TV reports (http://bit.ly/18xFyXP) that it includes more money to purchase equipment which has been neglected for years because of the county's money troubles.<br><br>&nbsp;&nbsp; The budget will include a 2 percent cost-of-living raise for county workers for the first time in years. Petelos said the county needs to do more to keep workers from leaving.<br> Wed, 18 Sep 2013 13:25:17 +0000 The Associated Press 38105 at http://apr.org Jefferson County Approves Budget $3 Million In Jefferson Co. Taxes Uncollected http://apr.org/post/3-million-jefferson-co-taxes-uncollected <p></p><p>According to county records, nearly $3 million in Jefferson County business property taxes haven't been collected because there aren't enough agents on staff to recoup the money.</p><p>Tax collector J.T. Smallwood says the bankrupt county has no tax agents in Birmingham and has one in the Bessemer Division.</p><p>According to the tax collector's office, Jefferson County has missed out on $570,000 in 2013 because of uncollected taxes. The county did collect $560 million during the last fiscal year.</p> Sun, 04 Aug 2013 19:35:51 +0000 The Associated Press 35388 at http://apr.org $3 Million In Jefferson Co. Taxes Uncollected Jefferson County Files Bankruptcy Exit Plan http://apr.org/post/jefferson-county-files-bankruptcy-exit-plan <p></p><p></p><p>Attorneys for Jefferson County have filed a 101-page plan to exit the largest municipal bankruptcy in American history.</p><p>The plan calls for cutting the county's $4.2 billion debt by more than $1.2 billion and raising sewer rates annually by 7.41 percent for four years. Rates would rise by 3.49 percent annually for an undetermined amount of years after that.</p><p>The plan must be approved by Thomas Bennett, U.S. Bankruptcy Judge for the Northern District of Alabama.</p> Sun, 30 Jun 2013 23:35:22 +0000 The Associated Press 33296 at http://apr.org Jefferson County Files Bankruptcy Exit Plan Jefferson Co. Commission Approves Bankruptcy Plan http://apr.org/post/jefferson-co-commission-approves-bankruptcy-plan <p>Jefferson County commissioners have approved a plan to exit the largest municipal bankruptcy in U.S. history.</p><p>The panel approved the plan on a 4-1 vote Thursday. It's due to be filed with a federal judge Sunday.</p><p>Most of the $4.2 billion debt stems from bonds that funded sewer system repairs, and the plan includes sewer fee hikes of 7.4 percent for four years and 3.4 percent for 40 years.</p><p>Commissioner George Bowman opposed the plan, which he says puts too much of a burden on people in his district.</p> Thu, 27 Jun 2013 22:18:05 +0000 The Associated Press 33119 at http://apr.org Jefferson Co. Commission Approves Bankruptcy Plan Ala County Has Timeline for Ending Huge Bankruptcy http://apr.org/post/ala-county-has-timeline-ending-huge-bankruptcy <p>An Alabama county hopes to end the largest municipal bankruptcy in U.S. history by the end of this year.</p> Fri, 10 May 2013 13:22:26 +0000 The Associated Press 30118 at http://apr.org Ala County Has Timeline for Ending Huge Bankruptcy Alabama Lawmaker Proposes Jefferson County Tax http://apr.org/post/alabama-lawmaker-proposes-jefferson-county-tax <P><SPAN style="FONT-SIZE: 13px" id=_oneup>(Information in the following story is from: The Birmingham News, http://www.al.com/birminghamnews)</SPAN></P> <P><SPAN style="FONT-SIZE: 13px" id=_oneup>A state representative from Birmingham has proposed a plan that he says will allow Alabama's largest county to escape from bankruptcy.</SPAN></P> <P><SPAN style="FONT-SIZE: 13px" id=_oneup>Democratic Rep. John Rogers told The Birmingham News that he will introduce a bill in the Legislature to reinstate the Jefferson County 0.5 percent occupational tax and generate as much at $65 to $70 million. Sun, 17 Mar 2013 22:32:03 +0000 The Associated Press 26875 at http://apr.org Alabama Lawmaker Proposes Jefferson County Tax Movement Possible in Jefferson Co. Bankruptcy http://apr.org/post/movement-possible-jefferson-co-bankruptcy <DIV> <P>This could be an important week in Jefferson County's attempt to emerge from the largest municipal bankruptcy in U.S. Mon, 28 Jan 2013 12:37:51 +0000 The Associated Press 23888 at http://apr.org Movement Possible in Jefferson Co. Bankruptcy