BRADENTON, Fla. – In Birmingham federal court Friday during a hearing to determine if Jefferson County, Ala., set proper sewer system rates to support $3.14 billion of defaulted sewer warrants, Bank of New York Mellon attorneys announced that the trustee will stop payments on the warrants.

A material event notice prepared by the trustee also states that BNY Mellon may attempt to accelerate payment of the warrants.

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