County votes to OK U.S. record bankruptcy
BIRMINGHAM — Leaders of Alabama’s most populous county have voted to file an estimated $4.1 billion bankruptcy, the largest municipal bankruptcy in U.S. history.
The Birmingham news reported that the Jefferson County Commission’s action came after spending about six hours over two days meeting with its lawyers to discuss legal options. Those options included a Chapter 9 bankruptcy filing and a settlement with creditors on the county’s $3.14 billion sewer debt.
Commissioner Jimmie Stephens made the motion to file bankruptcy, saying it’s time to resolve the issue.
The county has been trying for several years to find a way to resolve its sewer debt crisis and fix its fiscal 2012 county general fund budget, which commissioners have said needs another $40 million.
Storm damages roofs, sends residents inland
ANCHORAGE — High winds and surging waves pummeled Alaska’s western coast Wednesday, churning the Bering Sea and forcing residents of Nome and isolated native villages to seek higher ground inland.
Communications officer Zane Brown said the brunt of snow and hurricane-force winds hit about 2 a.m. A voluntary evacuation moved residents from beachfront businesses and homes to shelters at a community center and a church.
The last time forecasters saw something similar was in November 1974, when Nome took the brunt of another storm. That sea surge measured more than 13 feet, pushing beach driftwood above the level of the previous storm of its type in 1913.
State to probe utility on storm power outages
HARTFORD — Connecticut’s attorney general said Wednesday he will research whether the state’s largest power utility broke any laws in its handling of outages that left thousands of people in the cold and the dark for more than a week in the wake of a pre-Halloween snowstorm.View Entire Story
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