Flood lawsuit settled for $23.7 million - trivalleycentral.com: Arizona News

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  • December 26, 2014

Flood lawsuit settled for $23.7 million

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Posted: Monday, January 28, 2013 9:56 am

PHOENIX (AP) — Maricopa County has paid out $23.7 million in a years-old dam dispute to settle one of the longest-running lawsuits in recent county memory.

The payment was made in December. According The Arizona Republic, $4.6 million came from the county’s self-insured risk trust fund and $19.1 million from the flood control district.

More than a dozen landowners along the Gila River in 1995 sued then-owners of the Gillespie Dam and the Maricopa County Flood Control District over flooding on their property that occurred when the dam broke two years prior.

The court judgment imposed a 10 percent interest rate, but statutory changes since then lowered the interest rate on judgments to 4.5 percent. The interest dispute could be heard in Maricopa County Superior Court.

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