County legislators for Alabama's bankrupt Jefferson County voted unanimously yesterday to skip a $15 million payment due Oct. 1 on about $200 million of Jefferson County general obligation warrants, Reuters reported. The cash-strapped county declared bankruptcy in November with slightly more than $4 billion in debt, which is the largest municipal bankruptcy in U.S. history. Last month, Jefferson County skipped - for the first time - a $15 million general obligation bond payment as officials said that they needed the money to pay for basic government services. Last week, Alabama state legislators turned aside a campaign to restore a local jobs tax that would have provided $60 million in revenue - a loss that county commissioners said will require more sharp cuts in Jefferson County's spending.
