Jefferson County, Ala., to negotiate debts

BIRMINGHAM, Ala. (AP) -- Jefferson County officials say they will enter intense negotiations with creditors to try to resolve the county's $3.2 billion sewer debt crisis.
Commission President David Carrington made the announcement on Monday shortly after John S. Young, the court-appointed receiver for the Jefferson County sewer system, said he would postpone a public hearing scheduled for Wednesday on his proposed 25 percent rate increase.
Carrington and Young said in separate statements that participation by Gov. Robert Bentley and Attorney General Luther Strange has nudged the sides toward the possibility of a negotiated deal.
The county has struggled unsuccessfully since 2008 to reach a settlement with creditors, including JPMorgan Chase & Co., over the $3.2 billion borrowed to repair and expand the county sewer system.


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