Talks with Jefferson County Commissioners and Wall Street banks continue, but there's still no consensus on a plan to deal with the county's sewer debt crisis.  However, commissioners say that isn't necessarily a bad thing.  Commissioner Shelia Smoot says, "If they were to come back and say all deals are off the table that would be bad.  Let's be positive.  It's a good thing that Wall Street understands they have to keep talking to us because we could do the bankruptcy thing and then they get nothing." 

The commission got an update Thursday from one of the county's financial advisors.  Commissioners say they will not agree to any plan that would force the county to give up its authority to control the sewer system.  The county hopes its bond holders and bond insurers will accept a plan to cover part of the sewer debt with excess money from the one cent sales tax.  Some commissioners are more comfortable with that idea than others.  Commissioner Jim Carns believes, "The bond insurers are asking for everything to cover themselves.  We are trying to help them but we are not going to do anymore than we have put on the table.  We have offered an extremely fair deal."  Commissioner Smoot says she doesn't like the idea of focusing only on one solution.

The county faces a deadline next week on a $53 million dollar debt payment.

Email To A Friend