BIRMINGHAM, Ala. – Officials in Alabama's largest county have delayed for another week a decision on whether to file for the largest ever U.S. municipal bankruptcy.
Commissioners talked behind closed doors for more than four hours Thursday afternoon before President David Carrington said they would meet again Aug. 12 and announce a decision on what to do about the $3 billion debt.
Carrington said the commissioners went over item-by-item a proposal from Wall Street creditors for settling the debt. He says Gov. Robert Bentley asked the five commissioners to wait another week before deciding and they agreed.
He declined to talk about details of the proposal from creditors.
He said one issue is how much sewer rates will increase under a settlement or bankruptcy.