Michigan to Sell $604 Million of Debt for Flint Water Settlement

Michigan is slated to sell $604 million of taxable bonds to help finance the state’s settlement payments to victims of the lead-contaminated water supply in the majority-Black city of Flint.

Flint’s water crisis began in 2014, when in an effort to cut costs, officials began sourcing the city’s drinking water from the Flint River. The river contained contaminants that leached lead from pipes, polluting the water for thousands of residents, including infants and children. Studies found the contamination may have been the cause of a Legionnaire’s disease outbreak and several deaths in the area. As a result, former Governor Rick Snyder was charged with two misdemeanor counts for his role in the crisis and eight others face criminal charges. The charges are “wholly without merit,” his lawyer has said.