Page:United States Statutes at Large Volume 61 Part 4.djvu/335

 61 STAT.] CANADA-CANOL PROJECT- - A s. 31 1945 Sept. 6, 1945 3679 Agreement between the United States of America and Canada respecting ugust 31 and waiver by Canada of certain rights relating to crude oilfacilities of the IT.LA.T6 Canol Project. Effected by exchange of notes signed at Ottawa August 31, and September 6, 1945; entered into force September 6, 1945. The CanadianSecretary of State for External Affairs to the American Charge d'Affaires ad interim DEPARTMENT OF EXTERNAL AFFAIRS CANADA No. 83 OTTAWA, August 31, 1945. SIR: Under the exchange of notes of June 27-29, 1942, the Canadian 57stat.1413. Government acquired an option to purchase the facilities of the crude oil pipeline from Norman Wells to Whitehorse and the refinery at Whitehorse at a valuation based upon the commercial value of the pipeline and refinery as agreed by valuers named by Canada and the United States. Under the exchange of notes of February 26, 1945, Ante, .36 77. it was agreed that this valuation should take place within a reasonable time following notice of the termination of operation of the project or a major part thereof. The Canadian Government has decided not to exercise the option referred to in the preceding paragraph and desires to inform the Government of the United States that it is now willing to waive that option. Under these circumstances it believes that the interest of neither country would be served by proceeding with former plans for joint valuation and that these should therefore be abandoned. The exchange of notes of June 27-29, 1942, provided that if the 67St t . 1413. Canadian Government did not exercise its option, now waived, to purchase the crude oil facilities within three months, they might be offered for sale by public tender with the amount of the valuation as the reserve price. In view of the desire of the Canadian Government not to proceed with joint valuation of the project, the Canadian Government likewise waives the provision above referred to whereby the facilities must be offered at the reserve price. It is understood that the United States Government will at a later date submit to the Canadian Government plans for the disposition of the Canol facilities. The Canadian Government hopes that the waivers of its rights as set forth above will be acceptable to the Government of the United States and will facilitate disposition of the Canol facilities.

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