contract involved the sale to KBC of WMATA's rail cars, which were then leased back to WMATA. The transit agency asked for an injunction from the U.S. District Court for the District of Columbia on October 29, 2008. After three days of negotiations in federal court, Judge Rosemary M. Collyer announced a settlement on November 14, 2008. WMATA had 14 similar lease agreements with other financial institutions when the KBC case went to trial. Waivers were requested from the banks to allow WMATA time to replace AIG with another insurer or guarantees by the federal government. In 2009, WMATA issued two new series of municipal bonds bringing its total outstanding bonds to $390.9 million, as of June 30, 2010. This includes $55 million of Build America Bonds issued in 2009 under the American Recovery and Reinvestment Act of 2009 that are partially subsidized by the federal government. However, most of the system's debt is financed directly by each local jurisdiction. In addition, WMATA was authorized to receive $202 million in grants from the federal government for American Recovery and Reinvestment Act projects. The funds are spent in 30 projects which include information technology, facilities maintenance, and vehicles and vehicle parts. On January 14, 2010, General Manager John B. Catoe announced his resignation from Metro, effective April 2, 2010. He was replaced on April 3, 2010, by Interim General Manager Richard Sarles. Sarles became one of three finalists interviewing for the permanent position, and later became the permanent General Manager on January 27, 2011. Jack Requa became the Interim General Manager upon Sarles' retirement January 16, 2015. Organization Board of directors WMATA was originally set up with a board of directors, of twelve members. Of those, six were voting members, and six were alternates. In response to the Passenger Rail Investment and Improvement Act of 2008, the WMATA Compact was amended on August 19, 2009, to allow the appointment of four additional board members by the federal government, bringing the total to sixteen. , there were a total of sixteen board members: eight voting members and eight alternates. Virginia, Maryland, and the District had each appointed two voting members and two alternate members. The Federal Government, through the General Services Administration, is authorized to appoint up to two voting and two alternate members, but had appointed just two voting and one alternate members. Board members serve without pay, but may be