JeffCo closer to bankruptcy plan, sewer rates could change - ABC 33/40 - Birmingham News, Weather, Sports

JeffCo closer to filing bankruptcy plan, sewer rates could change

Posted: Updated:
Jefferson County Commission meeting discussing a plan to exit bankruptcy, Tuesday, June 25, 2013. (abc3340.com) Jefferson County Commission meeting discussing a plan to exit bankruptcy, Tuesday, June 25, 2013. (abc3340.com)
BIRMINGHAM - AL -

Jefferson County will file a plan to exit bankruptcy this week. Tuesday, commissioners gave the public a glimpse of what to expect to see in the bankruptcy bill and who will be paying it.

The proposed sewer rates continue to cause a stink.

"My constituents are struggling to pay those bills now. The only assurance they have now is however hard it is to pay those bills now, it's going to be harder next year and the year after  and it will continue for 40 years," said Commissioner George Bowman.

Under the current bankruptcy plan, it will take roughly forty years to repay the debt. The county will refinance the re-negotiated two billion dollar debt using a lower interest bond repaid over a longer period of time through sewer rates.

Right now, it would mean rate increases of 7.41 percent for four years then 3.49 after that. But those rates are tied to the interest rate.

"Could it [the rates] change? Yes. Should it change before August? Yes. Then the next change to re-look at it would be when we settle the debt in November, December," said Commission President David Carrington.

That's two opportunities for this and a future generation to possibly see very different sewer bills.

But Carrington says there's a small safety net worked into the bankruptcy deal to protect sewer users from a slight increase in the interest rate.

"We've built a cushion into the plan to absorb a portion of any interest rate increase," he said explaining that would prevent sewer rates from rising.

Commissioner Sandra Little Brown wants to see another safeguard for low income users. She's calling for a program to inspect homes for leaks that may be causing higher bills in some areas.

Thursday, the county's lead bankruptcy attorney will be in town to go over the plan with the commissioners in an executive session. Possible deals may be reached with an additional sewer creditor and creditor who holds some general obligation debt.

Under current agreements, creditors have agreed to eliminating about two billion of the more than four billion dollar debt.

  • Central Alabama NewsMore>>

  • John Carroll to head Ethics Commission

    John Carroll to head Ethics Commission

    Tuesday, September 2 2014 8:57 PM EDT2014-09-03 00:57:28 GMT
    Former Cumberland Law School Dean John Carroll will serve as acting director of the State Ethics Commission beginning Oct. 1.Ethics Commission Chairman Ed Crowell announced Tuesday that Carroll will fill in when Director Jim Sumer retires Oct. 1 after being the commission's top staff member for 17 years. Crowell says Carroll will not be a candidate for the permanent position. The commission is accepting applications for the permanent position.Carroll spent 13 years as dean of the Cumberland L...More >>
    Former Cumberland Law School Dean John Carroll will serve as acting director of the State Ethics Commission beginning Oct. 1.Ethics Commission Chairman Ed Crowell announced Tuesday that Carroll will fill in when Director Jim Sumer retires Oct. 1 after being the commission's top staff member for 17 years. Crowell says Carroll will not be a candidate for the permanent position. The commission is accepting applications for the permanent position.Carroll spent 13 years as dean of the Cumberland L...More >>
  • Poll shows most U.S. parents happy with schools

    Poll shows most U.S. parents happy with schools

    Tuesday, September 2 2014 5:18 PM EDT2014-09-02 21:18:23 GMT
    A new survey indicates that a majority of parents in the United States with children in public school systems would rate the quality of their children's schools as above average. Among those polled, 66 percent of parents would rate the quality of their child's school as above average or excellent. However, looking deeper in the demographics shows that minority parents are more likely to believe their children's school is average or worse.The study was released by Vox Populi Polling.More >>
    A new survey indicates that a majority of parents in the United States with children in public school systems would rate the quality of their children's schools as above average. Among those polled, 66 percent of parents would rate the quality of their child's school as above average or excellent. However, looking deeper in the demographics shows that minority parents are more likely to believe their children's school is average or worse.The study was released by Vox Populi Polling.
    More >>
  • Video appears to show beheading of US journalist Steven Sotloff by ISIS

    Video appears to show beheading of US journalist Steven Sotloff by ISIS

    Tuesday, September 2 2014 5:15 PM EDT2014-09-02 21:15:56 GMT
    An Internet video purports to show the beheading of U.S. journalist Steven Sotloff by the Islamic State group.More >>
    An Internet video purports to show the beheading of U.S. journalist Steven Sotloff by the Islamic State group.
    More >>
  • Anniston - Gadsden Area NewsMore>>

  • Deputies in Etowah County arrest three women for chemical endangerment

    Deputies in Etowah County arrest three women for chemical endangerment

    Tuesday, September 2 2014 7:47 PM EDT2014-09-02 23:47:56 GMT
    The Etowah County sheriff's office arrested three women for chemical endangerment of a child. Investigators charged 28-year-old Ashton Lauren Wood, 25-year-old Jessica Amber Abner and 24-year-old Keeley Elizabeth McCain. Sheriff's Office Deputy Jeremy Lasseter say Wood and her baby both tested positive for amphetamines following the baby's birth. Her bond is set at $10,000. Wood will be supervised by Community corrections and must comply with DHR requirements. She will not be allowed to make ...More >>
    The Etowah County sheriff's office arrested three women for chemical endangerment of a child. Investigators charged 28-year-old Ashton Lauren Wood, 25-year-old Jessica Amber Abner and 24-year-old Keeley Elizabeth McCain. Sheriff's Office Deputy Jeremy Lasseter say Wood and her baby both tested positive for amphetamines following the baby's birth. Her bond is set at $10,000. Wood will be supervised by Community corrections and must comply with DHR requirements. She will not be allowed to make ...More >>
  • Clean out your cabinets for Drug Take-Back Day

    Clean out your cabinets for Drug Take-Back Day

    Tuesday, September 2 2014 1:38 PM EDT2014-09-02 17:38:07 GMT
    Do you have a drawer or cabinet of medicines? Are any of them out of date? Now is the time to check because you can safely dispose of the medications at the Etowah County Prescription Drug Take-Back Day. It is part of a nationwide effort. The event will be Saturday, September 27. A take-back station will be set up at the East Gadsden Walmart from 10:00 a.m. until 2:00 p.m.A law enforcement officer will remain with the drug disposal box at all times, and the drugs that are turned in will be tr...More >>
    Do you have a drawer or cabinet of medicines? Are any of them out of date? Now is the time to check because you can safely dispose of the medications at the Etowah County Prescription Drug Take-Back Day. It is part of a nationwide effort. The event will be Saturday, September 27. A take-back station will be set up at the East Gadsden Walmart from 10:00 a.m. until 2:00 p.m.A law enforcement officer will remain with the drug disposal box at all times, and the drugs that are turned in will be tr...More >>
  • Arrest made in large level extortion scheme

    Arrest made in large level extortion scheme

    Friday, August 29 2014 12:45 PM EDT2014-08-29 16:45:16 GMT
    "Everett Leon Stout, 72 and Miriam Clair Schultz, 67 are charged with 14 counts of extortion.More >>
    "Everett Leon Stout, 72 and Miriam Clair Schultz, 67 are charged with 14 counts of extortion.More >>
Most Popular
Stories
Videos
loading...