Jefferson County, Ala., will wipe out more than $1.2 billion of sewer debt and residents will face smaller sewer rate increases if the plan to exit its historic $4.2-billion municipal bankruptcy is approved later this year.
The plan, filed on June 30, will be submitted to Judge Thomas Bennett in U.S. Bankruptcy Court in the Northern District of Alabama in August and go before creditors for a vote before another hearing in November.