BRADENTON, Fla. - Jefferson County, Ala., commissioners yesterday approved their first forbearance agreement with creditors other than those involved with the county's troubled sewer warrants.

Commissioners authorized the commission president to sign a forbearance agreement until Sept. 30 on $120 million of Series 2001B general obligation variable-rate demand obligations with the Bank of New York Mellon as trustee, JPMorgan Chase Bank as swap counterparty and liquidity provider, and Bayerische Landesbank as liquidity provider. The county has a swap with JPMorgan on a notional amount of $120 million through 2011 on the Series 2001B debt.

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