There appears to be a deal clearing the way for an end to Jefferson County's bankruptcy. Commission president David Carrington says the commission will vote on a modified exit plan Thursday. It is expected to include $350-million dollars in concessions by the creditors. Commissioners said the added cost of the deal was caused, in part, by higher interest rates. Commissioners had said that if creditors balked at the concessions, the county would respond by terminating the deal, prolonging the bankruptcy. The agreement means the county could emerge from bankruptcy by the end of the year.
"This effort involves a lot of people who have worked diligently to solve a very difficult problem," said Carrington and Commissioner Jimmie Stephens in a joint statement. "Our fellow commissioners have been steadfast throughout, and for that we are grateful."