Jefferson County's troubled sewer system will soon be run by a receiver. Judge Albert Johnson approved the receivership on Tuesday. Lawyers representing the trustees of the county's 3 billion dollar sewer debt pushed for the receiver. They say the county has defaulted on its debt payments. But attorneys for the Jefferson County Commission are opposed to the idea, especially if the receiver has the power to raise sewer rates. So, what exactly is a receiver? And what power will he or she have? For answers to those questions, WBHM's Bradley George spoke with Melissa Woodley. She's Assistant Professor of Finance at Samford University's Brock of School of Business.
~ Bradley George, September 7, 2010