Hoover Mayor Backs Calls for Jeff. Co. To Declare Bankruptcy
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Associated Press
Published: August 20, 2008
HOOVER, Ala. (AP) - Hoover Mayor Tony Petelos says its time for
Jefferson County to admit its mistakes with the sewer system.
Patelos, in a Tuesday interview with a Birmingham radio station
(WERC), said county commissioners needs to declare Chapter 9
bankruptcy rather than wait and watch the interest and penalties
climb higher.
Patelos said he believes Retirement Systems of Alabama Chief
David Bronner, an advocate of bankruptcy, knows what he is doing
more than attorneys who are trying to drag out the process and make
more money.
The mayor said he’s pleased that municipal bonds for Hoover are
all issued at a fixed rate, rather than the floating rates that
have financially crippled Jefferson County.
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