largest municpal bankruptcy http://apr.org en 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