Page:United States Statutes at Large Volume 71.djvu/657

 71

STAT.]

(0) to carry public-liability insurance protecting the Board, and the members, officers, and employees thereof engaged in operating and maintaining the stadium; and to require tenants or lessees of the stadium to carry public-liability insurance protecting the interests of such tenants or lessees; (10) to accept the gratuitous services of such persons as may volunteer to aid in the conduct of its activities. SEC. 6. (a) The Board shall place into a fund all receipts derived from the exercise by the Board of the powers granted by this Act. This fund shall be used for operating, maintaining, and repairing the stadium and to pay the principal and interest of bonds issued under authority of section 4 of this Act as they fall due and the redemption or repurchase price of all or any thereof redeemed or repurchased before maturity as provided in section 4 of this Act. All revenues and receipts from the rental or lease of the stadium are hereby pledged to such uses and to the application thereof as hereinafter in this section required. After payment or provision for payment therefrom of all cost of maintenance, repair, and operation and the reservation of an amount of money estimated to be sufficient for the same purpose during the ensuing period of not more than six months, the remainder of receipts received from rental or lease of the stadium shall be placed in a fund to be used to pay the principal and interest of the bonds. An accurate record of the cost of the stadium, the expenditure for maintaining and operating it, and of rentals and lease receipts shall be kept and shall be available for the information of all interested persons. (b) Within a reasonable time after the construction of the stadium, the Board shall file with Congress and the Board of Commissioners of the District of Columbia a sworn itemized statement showing the cost of constructing the stadium, and the amount of bonds, debentures, or other evidences of indebtedness issued in connection with the construction of such stadium. SEC. 7. After payment of the bonds and interest or after a sinking fund sufficient for such purpose shall have been provided and shall be held solely for that purpose, but in any event not later than fifty years from the date of enactment of this Act, the Board shall deliver deeds or other suitable instruments of conveyance of the interest of the Board in and to the stadium to the Board of Commissioners of the District of Columbia, for the District of Columbia and the stadium shall thereafter be properly operated, maintained, and repaired by the District of Columbia. SEC. 8. (a) The Board is authorized to employ and fix compensation of such personnel as may be necessary to carry out the purposes of this Act, without regard to the provisions of the civil-service laws and the Classification Act of 1949, as amended. (b) Under the direction of the Board and with the written authorization signed by the members thereof, an employee of the Board may exercise such of the powers vested in the Board by section 5 of this Act as the Board shall determine. SEC. 9. Nothing contained in this Act shall be construed to authorize or permit the Board or any member thereof to create any obligation or incur any liability other than such obligations and liabilities as are dischargeable solely from funds contemplated to be provided by this Act. No obligation created or liability nicurred pursuant to this Act shall be a personal obligation or liability of any member or members of the Board but shall be chargeable solely to the funds contemplated to be provided by this Act. No indebtedness created pursuant to this Act shall be an indebtedness of the District of Columbia or the United States. 84352 O - 5 8 - 4 2

621

PUBLIC LAW 8 5 - 3 0 0 - S E P T. 7, 1957

Fund.

Statement of cost.

Operation and maintenance.

Personnel.

63 Stat. 954. 5 USC 1071 note.

L i m i t at ion on indebtedness.

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