MONEY LENDING, FEDERAL PAYMENT, ISSUE BONDS, WATER AND SEWER RATES, FIX FEES, AND TAXATION OF INVESTMENT COMPANIES HEARINGS BEFORE THE SUBCOMMITTEE ON FISCAL AFFAIRS OF THE COMMITTEE ON THE DISTRICT OF COLUMBIA UNITED STATES SENATE NINETY-FIRST CONGRESS SECOND SESSION ON S. 3828, H.R. 17711, S. 3903, S. 3904, S. 3905, S. 3906, and H.R. 15381 MAY 13 AND JUNE 8, 1970 Printed for the use of the Committee on the District of Columbia 50-436 O LAW LIBRARY DEC 4 1970 UNIVERSITY OF CALIFAN U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1970 Allen, Mrs. Anita F., chairman, District of Columbia School Board.......... Christensen, Don A., president, Greater Washington Investors, Inc.. Coon, Charles, Metropolitan Washington Board of Trade_. Coppie, Comer S., deputy budget officer, District of Columbia Haase, Richard O., chairman, Taxation Committee, Washington Board of Hechinger, John W., former chairman, District of Columbia City Council. Jackson, Norman E., director, Department of Sanitary Engineering, Dis- trict of Columbia government.___ Kneipp, Robert F., assistant corporation counsel, District of Columbia Leatherman, Leland F., secretary-treasurer, National Rural Utilities Co- McCally, Robert E., Assistant Corporation Counsel, District of Columbia Nees, Bernard J., president, Washington Mutual Investors Fund, Inc.. Owen, Thomas J., Jr., chairman, Municipal Finance Committee, Metro- "Congress, the District-and Money", Washington Post, June 7, "The District's Unworkable Budget System", Washington Star, Fees specified in acts of Congress relating to the District of Columbia....... Letter from Deputy-Mayor Graham W. Watt to subcommittee chairman, Proposed bill to amend the District of Columbia Cooperative Association Table I.-Summary of projected water fund operating and capital outlay income versus expenditures as of June 1, 1970--- Table II.-Water fund-cash flow projections, as of June 1, 1970- Table III.-Summary of projected sanitary sewage works fund operating and capital outlay versus expenditures as of June 1, 1970.......... Table IV.-Sanitary sewage works fund cash flow projections-as of June 1, District of Columbia government proposed municipal bond issue.. District of Columbia government supporting materials for Federal pay- City employment and total government employment for selected 158 City government expenditures and employment, District of Columbia, Comparison of tax burden with other cities of comparable size-1969__ Comparison of tax burden with other neighborhood suburbs-1969__ District of Columbia budget, all funds-new authorizations 1962-71_. Federal grants to the District of Columbia 1969-71.. Federal payment and its relation to the general fund.... Increased operating costs for 1969 over 1965 by major functions.. 1971 District operating budget-total and increases by selected func- 120 Use of revenues against 1971 operating budget- 115 MONEY LENDING, FEDERAL PAYMENT, ISSUE BONDS, WATER AND SEWER RATES, FIX FEES, AND TAXATION OF INVESTMENT COMPANIES WEDNESDAY, MAY 13, 1970 U.S. SENATE, COMMITTEE ON THE DISTRICT OF COLUMBIA, Washington, D.C. The subcommittee met, pursuant to notice, at 12 p.m., in room. 6226, New Senate Office Building, Senator Thomas F. Eagleton (chairman of the subcommittee) presiding. Present: Senator Eagleton. Also present: Edward Maeder, counsel; and Judy Burnett, clerical assistant. Senator EAGLETON. The Fiscal Affairs Subcommittee of the Committee on the District of Columbia will be in order. Today, the Subcommittee on Fiscal Affairs is considering S. 3828, a bill which would exempt cooperatives formed under the District of Columbia Cooperative Association Act with respect to their financial transactions with members from certain provisions of the District of Columbia Code. A copy of this bill will be made a part of the record. (The bill, S. 3828, follows:) (1) |