Officials in the village of Crestwood, Ill., are moving toward a possible $15 million payout to settle lawsuits over the Chicago suburb’s decades-long use of contaminated well water in its drinking supply.
The Daily Southtown reports that village trustees approved a $9 million bond issue that would help cover the cost. Another $3 million would come from current funds and the remainder from insurance.
But Mayor Lou Presta says the plan could unravel. He says that’s because residents could petition to have the bond sale put before voters in a referendum.
The village told residents it only used Lake Michigan water after discovering in 1985 that a village well contained cancer-causing vinyl chloride. But regulators later found that contaminated water continued to be mixed into the supply for years.
Topics Illinois
Was this article valuable?
Here are more articles you may enjoy.
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
Ship Insurers Set for Major Claims From Iran War, Allianz Says 
Intersecting Risks and the Future of Construction Insurance 
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters 
