“Technical default”

Jefferson County defaults on swap agreements - Breaking News from The Birmingham News - al.com

They haven’t missed any payments yet. I don’t know what exactly this means, but it’s not good.

Hey, free advertising!

Tired of crime, west Birmingham church puts up warning about drug dealers on its street- al.com

A sign at New Era Baptist Church in west Birmingham declares, “Warning: Crack cocaine is sold on this street.”

“Everybody is going to get paid.”

Jefferson County commissioner reassures employees as financial crisis builds- al.com

“Unfortunately, some of you are going to be paid in sewer bonds.”

S&P downgraded the sewer debt again, — third time for them, I believe — and also gave downgrades to Jefferson County’s general bonds and to the Civic Center Authority, though the latter two are still investment grade.