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Bankrupt Alabama county to skip $15 mln bond payment
March 28, 2012 / 7:51 PM / 6 years ago

Bankrupt Alabama county to skip $15 mln bond payment

BIRMINGHAN, Ala., March 28 (Reuters) - Alabama’s bankrupt Jefferson County will skip a $15 million general obligation bond payment due April 2, county commissioners unanimously agreed on Wednesday.

The county has defaulted on sewer system debt at the heart of its landmark municipal banruptcy filing in November and must now protect the limited cash they have, skipping the debt payment, to provide police and basic government services, according to officials. (Reporting By Verna Gates; additional reporting by Michael Connor in Miami; Editing by Chizu Nomiyama)

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