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![handle is hein.gao/gaobadxxk0001 and id is 1 raw text is:
DOCUMENT RESUE
04147 - fB0385225]
The Panama Canal Treaty. February 1, 1978. 16 pp. + enclovure (2
pp.).
lestimony before the Senate Committee on Armed Service.; by
Elmer B. Staats, Comptroller General.
Contact: Office of the Comptroller General.
Organization Concerned:' Panama Canal Co.
Conqressional Relevance: Senate Committee on Armed Services.
Authority: Government Crporation Control Act.
Since the si4hing of the Panama Canal and neutrality
treaties, GAO has analyzed issues related to ;such questions as:
will the proposed Panama Canal Commission he f4nancially
self-sufficient, what treaty-related costs can te anticipated,
and what will be the impact on Canal toll rates. Financial
viability of the proposda Commission will depend on
treaty-implementing legislation. The legislatiau should deal
with such issues as:the fcrm of organization the proposed
Commission should take ard who will audit it, assuring an
orderly transfer of property and continued efficient operation
of functions, resolving Panama's $8.4 million debt for past
services, relating payments for public services to costs and
assuring quality of services, how to treat the annual $10
million continqent payment in financial and toll setting plans,
hhether the Canal organization should be relieved of its
obliqation to pay intetest on U.S. investments, whether the
United States should attempt to recoup its investment through
iccelerated depreciation charges, the magnitude of other
treaty-related costs for personnel terminations and relocation;
whether toll revenues will be sufficient to cover costs, and who
will bear th' burden of increased toll rates. (HTW)
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