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ID-79-33 1 (1979-06-04)

handle is hein.gao/gaobacjiv0001 and id is 1 raw text is: Ioqsy STUDY BY THE STAFF OF THE U, S. LN109557 General Accounting Otrice Background Information Bearing Upon Panama Canal Treaty Imptementing Legislation The signing of the Panama Canal Treaty by President Carter and General Torrijos on Sep- tember 7, 1977, culminated 13 years of nego- tiations involving four administrations of both parties. The new Treaty will provide an en- tirely new basis for cooperation between the * United States and Panama for operation and defense of the Panama Canal and abrogates all prior agreements between the two countries. The Treaty calls for the establishment of the Panama Canal Commission to replace on Oc- tober 1, 1979, the Canal Zone Government and Panama Canal Company presently respon- - sible for administering Canal operations. The Treaty expires on December 31, 1999, at , T.-; which time Panama will assume control and responsibility for Canal operations. . *x :: -:.. In this document, GAO has attempted to .... summarize information bearing on Congres- sional consideration of implementing legisla- tion. This study deals with issues addressed by CANAL the Comptroller General during testimony COMMISSION before the Senate Committee on Armed Services and House Committee on Merchant Marine and Fisheries concerning the (1) Com- mission's form of organization, (2) cost of public services and financial viability, (3) orderly transfer of property to and accounts receivable payments from Panama, and (4) other Treaty-related costs. !Z ILIIl~III S109557 ID-79- U 0JUNE 4, 1979 ..- .

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