Jefferson County sells sewer warrants, on track to end - KATV - Breaking News, Weather and Razorback Sports

Jefferson County sells sewer warrants, on track to end bankruptcy

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BIRMINGHAM - AL -

Jefferson County Commission President, David Carrington, says the county is on track for ending bankruptcy by the end of 2013.

In a statement released, Tuesday, Carrington says:

"Despite the challenges, all of the county's new sewer warrants have been purchased by the underwriters at an all-in cost of borrowing of 6.964% and an average maturity of 32.03 years. More than 200 investors placed orders, including international investors located in Europe and Asia.

In addition, with the final structure of the financing, the capital expenditure shortfall decreased more than $60 million.

As such, the County will proceed to tomorrow's bankruptcy confirmation hearing. More detailed information will be available at tomorrow's Commission Meeting which is scheduled to begin at 11:00 am in the Commission Chamber."

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