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BIRMINGHAM, Ala. — Leaders of Alabama’s most populous county voted Wednesday to declare an estimated $4.1 billion bankruptcy, the largest for a municipality in U.S. history.
The commissioners took the action two months after it seemed Jefferson County had struck a deal to settle its $3.14 billion sewer debt, which resulted from a mix of outdated sewer pipes, the lagging economy, court rulings and public corruption. At the same time, it faces a separate shortfall of as much as $50 million in its operating budget because courts struck down a major local tax as unconstitutional.
