(Bloomberg) Jefferson County in Alabama May Vote to File Largest Bankruptcy July 28

Jefferson County, Alabama, may decide this week on filing a record U.S. municipal bankruptcy, according to a meeting notice from the county commission.

The five-member commission meeting on July 28 may also vote on extending a negotiating period with creditors on restructuring more than $3 billion of sewer bonds or a settlement, the notice said.

The meeting will come one day before the end of a 30-day “standstill period” in which the county and creditors led by JPMorgan Chase & Co. agreed to pursue a settlement to end the more than three-year-old debt crisis.

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Posted in * Economics, Politics, City Government, Economy, Politics in General, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--