December 8, 2013
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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