Jefferson County, Alabama’s financial woes thrust the county into national headlines last week. On November 9, the County officially filed for Chapter 9 bankruptcy protection, marking the largest U.S. municipal bankruptcy in history. As such – and perhaps because it follows so closely on the heels of Harrisburg, Pennsylvania’s bankruptcy filing – there is no shortage of media coverage.
As your hub for municipal-related research, MuniNet Guide has compiled the following list of resources pertaining to Jefferson County, its finances, and its bankruptcy filing. We’ve also included several recent articles that we feel best summarize recent events and the potential implications on the municipal bond market at large:
Jefferson County Resources:
- Jefferson County’s Chapter 9 Resolution, approved by the County Commission on November 9, 2011
- Jefferson County’s Chapter 9 petition, submitted on November 9, 2011
- Jefferson County, Alabama’s official home page
- Jefferson County’s Investor Relations office, with links to notices of material events, financial information, and other “notices of interest”
Municipal Bankruptcy Resources:
- U.S. Courts – Bankruptcy Basics: Chapter 9 Municipal Bankruptcy Protection
- MuniNet Guide Expert Interview with James Spiotto, Chapman & Cutler: Municipal Bankruptcy Remains Last Resort Despite Troubled Economy
Jefferson County in the News:
- (11/15/11) Stateline.org – Largest Municipal Bankruptcy Ever Prompts Muted Reaction Elsewhere
- (11/11/11) The Bond Buyer – JeffCo Filing Shouldn’t Prompt Copycats
- (11/11/11) Bloomberg Business Week – Jefferson County Bankruptcy a Blow to Long-Suffering Birmingham
- (11/11/11) The Birmingham News via AL.com – Alabama Sewer Debt Crisis: Jefferson County Leaders Cite Reasons for Bankruptcy (includes slide show)
- (11/10/11) Wall Street Journal – Largest Municipal Bankruptcy Filed
- (11/10/11) Reuters – Analysis: Alabama Bankruptcy Unlikely to Spawn Other Filings
- (11/10/11) AL.com – Jefferson County Bankruptcy Filing: Reaction from around Alabama
- (11/10/11) Reuters – Alabama County’s Consumer Rates Rocketed Up with Debt
- (11/9/11) The Bond Buyer – Jefferson County Finally Files for Bankruptcy