BRADENTON, Fla. - Jefferson County, Ala., faces expiration of its latest forbearance agreements today and may default on some of its $3.2 billion of troubled sewer debt, most of which is in variable- and auction-rate securities.

Meanwhile, a lawsuit seeking a receiver for the financially troubled sewer system continued with U.S. District Court Judge R. David Proctor talking to an unknown number of parties in the case, presumably to schedule what Proctor has called a "settlement summit."

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