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Article: United States: Metro to Use Funds for Upgrades, Not Bank Lease Deals.
- Article from:
- TendersInfo
- Article date:
- June 27, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: rakshali03
Washington s Metro transit system, said it will use any new federal and state funding to maintain and upgrade equipment after the deadliest crash in its history, rather than to pay so-called lease-back deals.
General Manager John Catoe gave the assurance today in response to comments by U.S. Senator Charles Grassley of Iowa, who is seeking to bar the Washington Metropolitan Area Transit Authority from funneling part of a proposed $3 billion funding package to lease-back obligations.
I absolutely agree our first priority has to be safety, Catoe said in an interview, three days after a Metro train crash that killed nine people. ...