The Jefferson County, Ala., Commission on Thursday is expected to approve another settlement with creditors over $105 million of defaulted Series 2001B variable-rate general obligation warrants.

The deal is with Bayerische Landesbank, which holds $52.875 million of the debt, and JPMorgan, which holds $52.125 million. The principal on the warrants has long ago accelerated but the cash-strapped county has not paid it.

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