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.
Jefferson County Commissioner Jimmie Stephens says the milestone means that the county "is alive and well and beginning to kick again."
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.
Financially troubled Jefferson County plans to quit admitting patients to its hospital for the poor. The County Commission voted 3-2 Tuesday to end inpatient care at Cooper Green Mercy Hospital. The county also asked a bankruptcy court judge to stop a lawsuit by the city of Birmingham that seeks to keep the hospital operating. The county filed for Chapter 9 bankruptcy in November, citing more than $4 billion in debt. It was the largest municipal bankruptcy filing in U.S. history. Commissioners said the county could no longer afford to underwrite the hospital.
Leaders in bankrupt Jefferson County are nearing a decision on whether to quit admitting patients to the county's charity hospital as a cost-saving move. The Jefferson County Commission will vote next Tuesday on whether to cease in-patient care at Cooper Green Hospital in Birmingham. The hospital would continue seeing patients at its emergency room, but it would quit admitting patients. Opponents of the proposed closing say they'll stage protests if the commission decides to end hospital admissions.