BRADENTON, Fla. - In a tersely worded statement yesterday, Jefferson County Commission President Bettye Fine Collins criticized local legislators who oppose the plan negotiated by Alabama Gov. Bob Riley and the New York Insurance Department that would absolve the county of $1 billion of sewer debt and avoid filing the largest municipal bankruptcy in U.S. history

Collins statement was released with results of yesterday's meeting in which commissioners approved yet another forbearance agreement with liquidity banks and swap counterparties involved with the county's $3.2 billion of sewer debt and $120 million of variable-rate general obligation warrants.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.