Tagged: Jefferson County bankruptcy

An Alabama county hopes to end the largest municipal bankruptcy in U.S. history by the end of this year.

(Information in the following story is from: The Birmingham News, http://www.al.com/birminghamnews)

A state representative from Birmingham has proposed a plan that he says will allow Alabama's largest county to escape from bankruptcy.

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. Rogers is co-chairman of the Jefferson County legislative delegation.

This could be an important week in Jefferson County's attempt to emerge from the largest municipal bankruptcy in U.S. history.

Al.com (http://bit.ly/Vzd38I ) reports that the county commission president and another commissioner will be in New York for meetings with hedge fund managers as they try to negotiate a deal.

On Wednesday, a federal bankruptcy judge in Birmingham will begin a hearing on a request by creditors who want to go to state court seeking rate increases for sewer service in Jefferson County.