TITLE

WMATA Chief: Dedicated Taxes Could Lower Borrowing Costs

AUTHOR(S)
Sanchez, Humberto
PUB. DATE
February 2005
SOURCE
Bond Buyer;2/22/2005, Vol. 351 Issue 32075, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the cost of borrowing to improve the Washington Metropolitan Area Transit Authority's (WMATA) subway and bus systems could go down if the state and local governments served by the agency agree to implement a proposal to dedicate tax dollars to cover the transit systems costs. According to WMATA general manager and chief executive Richard White, the less certain the assignment of the money, the higher the risk, and therefore, of course, the higher the debt that one has to pay to do capital projects. WMATA depends primarily on subsidies appropriated from the general funds of the eight localities it serves, including the District of Columbia, which leaves funding at the mercy of the local political climate.
ACCESSION #
16215693

 

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