Alabama

Jefferson County residents complain that creditors holding $3.14 billion of defaulted sewer warrants helped push the county into Chapter 9 municipal bankruptcy.

Jefferson County, Ala.’s bankruptcy case administrator must search for new members to serve on a committee representing unsecured creditors, Judge Thomas Bennett ruled last week.

The Jefferson County, Ala., Commission has scheduled the first of three public hearings on sewer rates, which provide the revenue securing the county’s $3.14 billion of defaulted sewer warrants.

More than a dozen Birmingham residents, including two City Council members and two Alabama lawmakers, on Monday filed a $1.63 billion claim in Jefferson County's Chapter 9 bankruptcy case.

BRADENTON, Fla. — Alabama Gov. Robert Bentley Thursday selected 105 road and bridge improvement projects for the first round of funding in the Alabama Transportation Rehabilitation and Improvement Program, or ATRIP.

The Alabama Legislature ended a special session last week by passing a bill that will ask voters to increase borrowing for economic development projects.

Jefferson County, Ala., plans public hearings on sewer rate increases from June through the fall, according to the Birmingham News.

BRADENTON, Fla. — Bond insurer Syncora Guarantee Inc. warned prospective buyers of some of Jefferson County, Ala.'s defaulted auction-rate sewer warrants that the insurer may seek to subordinate that debt to its own claims if the warrants are sold to investors by JPMorgan.

After the Alabama Legislature adjourned May 16 without providing Jefferson County fiscal relief, the federal judge overseeing the bankruptcy case will be asked Thursday to give the county additional time to decide whether to reject a lease securing $82.5 million of revenue warrants, the county said in a court filing last week.

After the Alabama state Legislature ended its regular session refusing to provide fiscal relief to Jefferson County, commissioners Tuesday redirected money that might have paid GO warrants to the general fund for operations. The county lacks authority to impose taxes without state approval.

Even with their largest county in bankruptcy, Alabama state legislators refused again to provide fiscal relief to Jefferson County and ended their regular session at midnight Wednesday.

The case administrator in Jefferson County, Ala.’s municipal bankruptcy case last week recommended the appointment of an unsecured creditors committee.

Birmingham, Ala., Mayor William Bell reportedly wants to ask voters for twice the bonding authority he originally sought, according to the Birmingham News.

Federal bankruptcy Judge Thomas Bennett on Monday continued indefinitely proceedings related to Financial Guaranty Insurance Co.’s request for sewer rate increases in Jefferson County.

BRADENTON, Fla. — The Alabama House County and Municipal Government Committee passed an amended bill Tuesday that is designed to bring fiscal relief to bankrupt Jefferson County.

Few days remain in the Alabama Legislature's annual session and lawmakers continue to argue over whether to provide bankrupt Jefferson County fiscal relief.

Former Alabama Gov. Bob Riley is now working for Houston-based alliantgroup LP, a tax specialty services provider that helps companies take advantage of federal and state tax incentives.

Bankrupt Jefferson County, Ala. last week dismissed counter charges against the Bank of New York Mellon for withdrawing $584,742 from a construction fund.

A federal judge in Birmingham Monday said that a portion of Jefferson County’s sewer system could be removed from the county’s 1996 consent decree for violations of the Clean Water Act.

The Alabama Senate last week passed a bill that would authorize the issuance of $650 million of revenue bonds for highways, roads and bridges.