The JeffCo sewer story continues to clog up the drains. The Commission fired attorney Bill Slaughter and authorized Gov. Riley to take over negotiations with Wall Street. Creditors promised to consider a new restructuring proposal and give the county a breather on payments till September 30. A local advocacy group, Citizens for Sewer Accountability, filed suit against JP Morgan and Blount Parrish & co., alleging bribery and corruption. Another group proposed increasing property taxes and imposing non-user fees in order to cover the debt service.
Meanwhile, RSA CEO David Bronner has disappeared from the public radar as news broke that RSA’s investment portfolio is just as susceptible to economic downturns as any other pension fund.
Not to worry, though. A new buyer has stepped forward to save our sewer system — Birmingham City Councilor Steven Hoyt wants the city to buy it. Um, okay.
Tune in tomorrow for more of “As the Sludge Thickens”.
Related posts here.
h/t Blues reader Peggy