State lawmakers will borrow $600 million for Flint water settlement

News

FLINT, Mich. – Michigan lawmakers are now passing a plan to use $600 million to pay for the state’s proposed settlement.

It’s with the residents of Flint, who filed a lawsuit after their water supply became contaminated with increased levels of lead.

The money is coming from a state economic development fund that will cost more than $1 billion.

It’s to repay over 30 years at the rate of $35 million annually.

Officials say, it will be Michigan’s largest government legal settlement.

Back in 2014, Flint switched its drinking water source in an attempt to save money for the city.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.