JeffCo Commissioners extend sewer debt one week
October 3rd, 2008
The Jefferson County Commission voted Thursday to extend its forbearance agreements with bondholders and Wall Street creditors regarding its $3.2 billion sewer debt.
The vote was 3-2, with Jim Carns and Bobby Humphryes voting against it.
The forbearance this time will only last for a week – until Oct. 8, before Jefferson County has to pay.
Jefferson County has been on the brink of bankruptcy since early February after a portion its adjustable-rate bonds collapsed amid the nationwide credit crunch payday advances. However, the commission has been unsuccessful in its negotiations with bondholders and creditors to lower its debt payments.
Filed under: management by Finance Boss