BOSTON PUBLIC LIBMAHT 



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One proposal that has been recommended by BPA and supported by the Office 

 of Management and Budget and Treasury Department, seeks to infuse some stabil- 

 ity into the debt payback process. According to this proposal, BPA wiU sell bonds 

 on Wall Street to raise money to pay the principal and interest on its Treasury 

 loans. BPA has promised that this buyout option will not affect rate payers for at 

 least the next 15 years. I am joined in my support of this proposal by other western 

 Senators and Representatives who believe this is a fair solution to the debt problem. 



Overall, BPA — one of Vice President Grore's Reinvention Laboratories — is making 

 great strides in streamlining its organizational structure. I want to offer my support 

 for these efforts and hope other federal agencies will follow BPA's example. 



Let me close by expressing my appreciation for the close attention that you, Con- 

 gressman Swift, and Speaker Foley have devoted to this important matter. The 

 northwest is better off because of your efforts. 



Thank you for including my comments in the hearing record. I look forward to 

 a continued cooperation between our offices on this important matter. 



Mr. DeFazio. I might just reflect for a moment before we drop 

 the gavel here. I think we have raised a number of issues in the 

 course of the task force that are not yet fully resolved. There will 

 be obviously a report and recommendations of the task force in 

 terms of potential legislation. Probably we won't resolve the repay- 

 ment issue before we get to that report, because I understand that 

 that is not a very fast track. But these other issues we will deal 

 with £ind I expect in the future we will probably deal with them 

 in the Oversight and Investigations Subcommittee, which is a little 

 larger forum and not quite so focused, but I believe the Chairman 

 will certainly be interested in continuing the oversight scrutiny. 



These are interesting and challenging times. I feel that the Ad- 

 ministrator has participated generously, and in fact attended a 

 number of the hearings personally. I appreciate that. I think it was 

 a learning experience for all of us. 



I look forward to a stable and prosperous future for the North- 

 west, with new stability for BPA, and also a future in which we 

 will have a gr£ind resurgence of our salmon stocks and other wild- 

 life with some of the new directions we might take there. So this 

 has been an interesting challenge for me. 



I appreciate everyone's participation, and I look forward to con- 

 tinuing a dialogue. 



With that, we are done. Thank you. 



[Whereupon, at 1:10 p.m., the task force was adjourned.] 



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