BRADENTON, Fla. - Few details are known about the remedial plan Jefferson County, Ala. is proposing to avert bankruptcy, leaving bondholders in the dark about the future of their investment.

Jefferson County, which includes Birmingham, has been unable to pay certain obligations in its massive $3.2 billion sewer debt portfolio because costs have risen dramatically due to the unexpected meltdown of the variable- and auction-rate markets.

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