Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-01-18

WIN NS1NAS Az AZ S~AAN W. SNPA"OA
Hill
The Commissioners sought
permission to send the bill
completed yesterday-to Con-
gress today, either with Budget
Bureau approval or a stipulation
that the bureau has not yet re-
viewed it in conformity with
President Eisenhower's financial
program.
Delay Could Be Caused
Insistence by the Budget Blu
|reau upon its prerogatiyes could
critically delay necessary legis-
Ilation needed to set up a pub
ilicly owned transit system to re-
place Capital Transit when its
franchise expires August IA.
The Budget Bureau early to-
day had kept its reaction to the
speed-up request confidential.
Commissioner Samuel Spencer
chairman of the board, also wal
noncommittal.
II have no comment. ! CAM
say anything at all about it" hi
declared.
Doubts Action Today
Subsequently, however, he sale
he did not think the measur,
would reach Congress today. +
II don't think the bill will b,
sent up today" he declared
They tthe Budget Bureau art
still working on it."
The 49-page draft asks au
thority to borrow $40 million
from the United States Treasur,
to get the system under way OF
August Is.
Also requested was an immedi
ate $250.00O to lay the ground
work - pay engineers. lawyer
and financial consultants nov
making studies.
THE Washington Metropoli
tan Authority" would have broa.
powers to buy, condemn and rul
transit systems in the area, un
der the Commissioners bill.
Highlights of Bill
Highlights of"the bill. as sub
mitted to the Federal Bulge
Bureau, were:
l. The Washington Metro.
politan Transit Authority SHOULD
be governed by a flye-membel
board of directors earning $l0t
meeting not more than q
times a year, although in the
first year they could earn VI
to $4,000.
Meetings would be required al
least once month. The five
would be appointed by the, Presi.
dent from metropolitan area
residents for five-year staggered
terms, with the first terms tt
expire April l, 1858, 1859, 1860
1861 and 1862. Operating under
a chairman and vice chairman
."all resolutions and proceedings
of the Authority and all docu.
ments and records in its pos
session shall be public records
and open to public inspection
except such documents and rec.
ordS as shall be kept or prepared
by the Authority for use ir
negotiations. actions or proceed
ings to which the Authority i.
party
| Removal Causes Specified
/ Also, THE President may re-
move any member of the hoart
i'm case of incompetency. neglec'
of duty. malfeasance in Office
,or conviction of a crime"
2. Until the first meeting O
the Board of Directors and tn,
selection of a chairman ane
vice chairman, the Distric
Board of Commissioners
are authorized and directed t,
function as such board and tt
exercise and perform all of tn,
authority. rights, powers ant
duties granted to and imposed
upon the Authority by this Ac
/. The Authority and thu
board shall be obligated to anc
bound by all actions, proceed
ings and contracts taken
authorized or entered into b!
the Board Of Commissioners O
the District of Columbia while
Ifunctioning as such board"
! 3. The measure would author
lie the Authority to borrow 81
million from the Treasury to ge
under way, with interest "at
rate to be determined by tn
Secretary of the Treasury" ou
Iof proceeds of the Second Libert.
Bond Act.
4. The measure would ais,
appropriate a quarter of ,
million dollars to formulate |
plan for" the Authority and pa.
fees and expenses for the finan
cial consultants and attorney
who have been working with tn,
District Commissioners Ito com
Iplete the study and planning O
the acquisition, construction ant
operation of a Transportation
system or systems and to deter
mine the feasibility thereof from
an economic and financial stand
point"
5. The measure would put NJ
limit on the amount of revenu,
bonds to be floated by the Au
Ithority through sale to individual
buyers and would leave the Au
thority free to extend or improv,
its system--even to the extent o
financing subways and othe
forms Of rapid transit" which
require separate rights of way.
6. Interest rates on the bond.
could not exceed 6 per cent, with
the Authority free to appoint
underwriters.
z. Bonds could be issueC