AG
Private Activity Bond Financing Approved as Part of Flint Water SettlementContact: Lynsey Mukomel 517-599-2746Agency: Attorney General
April 27, 2021
LANSING - The Michigan Strategic Fund (MSF) board today approved the authorization of private activity bond financing as part of the Flint water settlement.
The settlement was agreed to last year by the State parties and the plaintiffs legal counsel following more than 18 months of negotiations. It received preliminary approval by the court earlier this year.
Through that negotiated settlement agreement, and subsequent bipartisan legislation, the MSF was identified to facilitate the transaction and issue the bonds that will finance the settlement over a 30-year period. The newly-created Flint Water Advocacy Fund will borrow the settlement funds through the MSF and transfer the funds to the settlement administrator, per the agreement.
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Flint residents commemorate 7 years of water crisis with letter to officials, vow to continue ‘fighting for justice’
Updated Apr 25, 2021;
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FLINT, MI - Flint residents gathered Sunday afternoon to commemorate seven years since the beginning of the Flint water crisis, reflecting over those lost, the city’s progress and what remains to be done.
A few dozen residents, some standing outside and some remaining in their cars, attended the April 25 event held at the old farmer’s market at 420 E. Boulevard Drive.
The water crisis was triggered in Flint nearly seven years ago when the city, while being run by state-appointed emergency managers, changed Flint’s water source to the Flint River.
7 years after Flint water crisis started, pipe replacement nears end but other issues drag on
Today 6:33 AM
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FLINT, MI Seven years after the city’s water source was switched, triggering the Flint water crisis, the fallout continues to cast its pall.
While the city expects to close out three major water infrastructure projects related to the water crisis, including the final phase of a pipe replacement program, this year, other reminders of the man-made emergency linger with no clear end in sight.
Although a partial settlement of civil lawsuits filed on behalf of Flint residents could be approved later this year, the cases are continuing against defendants that have so far refused to settle their cases, including the U.S. Environmental Protection Agency.