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The rules were simple. Once some 200 people were situated within Samford's Wright Auditorium Friday morning a panel of representatives from the County's sewer bond refinancing team would take turns going over the options available to the Jefferson County Commission to deal with its 3.2 billion dollar debt.
First the team gave a breakdown of the three options: Bankruptcy, Default, and then the current plan supported by Jefferson County Commissioners Shelia Smoot, George Bowman, and Bettye Fine Collins.
It was clear from the beginning where the feelings of the crowd fell as cheers emerged as the Bankruptcy option was read allowed followed by boos as the the current plan was mentioned.
For the first portion of the information session bankruptcy experts took some time to explain Chapter 9 or Municipal Bankruptcy and the limitations of such a plan. Among the highlights the experts pointed out that the sewer system is an asset of the county and cannot be bankrupted separately.
That means for Bankruptcy to work the county would have to declare bankruptcy as a whole and hope a judge would separate the system.
Afterwards experts explained what it would mean if the County were to default on its debt and how a panel could be appointed to oversee operations and force excessive sewer fees to ensure bond debts are paid.
And finally the forum turned to an explanation of a plan that would result in an extended one-cent sales tax, an expansion of the occupational tax, and a gradual increase in sewer rates.
The public was not allowed to comment directly on the plans nor ask questions verbally. Instead, written questions were collected and read allowed for the panel to answer.
The format didn't sit well with Frank Denney a resident of Hoover. Several times during the forum Denney spoke out and questioned the panel, then during an intermission Denney approached Refinancing Attorney Bill Slaughter and began directly questioning him from the floor. Slaughter remained seated and composed as security approached Denney and escorted him from the auditorium.
Commissioners Bobby Humphryes and Jim Carns stopped into the meeting to listen in, but both left early after declaring the public was "more confused than ever."
Commissioner Shelia Smoot countered that the information presented was sound and reasonable.
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