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Alabama panel to vote on extending standstill pact

Wed Oct 1, 2008 12:00pm EDT

BIRMINGHAM, Ala., Oct 1 (Reuters) - Commissioners in Alabama's Jefferson County will vote on Thursday on a one-week extension of a standstill agreement so talks on restructuring $3.2 billion of soured sewer-system debt can continue.

Bettye Fine Collins, president of the commission, issued a formal notice scheduling the vote on an extension of forbearance agreements on Wednesday, a day after the county missed an $83.5 million bond interest payment and went into default. (Reporting by Melinda Dickinson; writing and additional reporting by Michael Connor; Editing by Theodore d'Afflisio)



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