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Sunday, 09/14/2008 1:18:22 AM

Sunday, September 14, 2008 1:18:22 AM

Post# of 29782
Alabama's broke and PRGL got a bone to pick!

Where is PRGL's Road, Rail and Sewer lines that were promised by the state???

Whom is misleading whom? Looks like the emperor really has no clothes, calling PRGL broke when they themselves are broke and a county in Alabama considering filing for bankruptcy!

Jefferson County commissioners reject creditors' proposal to tap taxes for sewer debt.
http://www.al.com/news/birminghamnews/index.ssf?/base/news/1221207358141820.xml&coll=2
Wall Street creditors want to tap revenues
Friday, September 12, 2008
Barnett Wright
News staff writer
A majority of Jefferson County commissioners said Thursday they would reject a proposal by Wall Street creditors to use sales and occupational taxes and other revenues to help pay off the $3.2 billion sewer debt, calling the offer an invitation for the county to file for bankruptcy.

"They must love bankruptcy," Commission President Bettye Fine Collins said. "The only thing I can figure out is they think they can get a better deal in bankruptcy court than they can get from us. And I don't understand that."

Gov. Bob Riley said Thursday in an interview that he doesn't support a plan that puts all the burden of solving the debt problem on Jefferson County residents. Riley's Montgomery office was the setting Wednesday for a meeting between officials of the county and creditors on a possible settlement.

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