Alabama state senators Tuesday passed a bill that originated in the House placing strict requirements on Jefferson County’s issuance of debt and use of swaps. The measure is now on its way to Gov. Bob Riley.

HB 613 requires any debt exceeding $5 million that is issued by the county to undergo a public hearing. Public notice and hearing requirements also apply to any swaps.

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.