34348 Federal Register / Vol. 70, No. 113 / Tuesday, June 14, 2005 / Rules and Regulations 

DEFINITION—THIS ITEM IDENTIFIES THE ACCEPTABLE TRANSACTION CODES WHICH ARE REPORTED FOR EACH

TRANSACTION

Transaction 

code Transaction title Transaction type—Description 

00 ............. Initial Balance ............... Installation—net balance of property in service as of December 31 of the year prior to the start date 

(See Definition of Items for Schedule S1 or A1). 

11 ............. New ............................... Installation—placement of property in service. These codes distinguish the condition of the property 

when it is added. A vintage year must begin with one of the following codes: 00, 11, 12, 13, 30 or 51. 

12 ............. Second Hand.

13 ............. Reconditioned ...............

(See code 65).

30 ............. Acquisition .................... Installation—property acquired from another operation carrier to be continued in the same or similar type 

of service. Acquisitions may occur as the result of mergers, consolidations, pooling of interests, or 

purchase of another company or portion thereof. 

51 ............. Transfer In .................... Transfer resulting in an increase of investment in an account with a concurrent decrease in another depreciable account with the company or an affiliated company. Opposite of a Transfer Out. 

52 ............. Transfer Out ................. Transfer—the removal of property from a depreciable account and concurrent reassignment of that property to another account in the company or an affiliated company. The reason for a Transfer Out may 

be a reclassification or a change in operations. No salvage entries are allowed for this code. 

61 ............. Regular ......................... Retirement—all retirements which occur in the course of normal operations for any cause other than 

those listed herein. 

62 ............. Reimbursed .................. Retirement—a retirement of property for which the company is compensated fully at the time of retirement through insurance or by public authority as a result of negotiations. 

63 ............. Sale ............................... Retirement—a retirement in which ‘‘going concern’’ property is sold for reuse to another organization for 

continuation of service. Sales at the end of life or because the property is no longer useful for normal 

transportation purposes are Regular Retirements (Code 61). 

64 ............. Outlier ........................... Retirement—a retirement which reflects a highly improbable occurrence should be classified as an 

outlier if the situation under which the retirement occurred can be documented as being exceptionally 

unusual. 

65 ............. Reconditioned ............... Retirement—retirement for the purpose of reconditioning the asset for further transportation service 

when the reconditioning is performed by the company or an affiliated company. The property is reentered into service coded 13 (Reconditioned). 

81 ............. + Adjustment ................. Adjustment—adjustment codes should be used only with FERC approval. Entries to correct past errors 

or omissions are not considered to be adjustments and should be corrected by use of the ‘‘Corrected 

Transaction Year’’ field. 

82 ............. ¥Adjustment.

99 ............. Balance ......................... Balance—balance in service as of December 31 of the End Date (See Definitions of Items for Schedule 

A1 or S1). No salvage entries are permitted for this code. 

[FR Doc. 05–11550 Filed 6–13–05; 8:45 am] 

BILLING CODE 6717–01–P

DEPARTMENT OF THE TREASURY

31 CFR Part 50

RIN 1505–AB09

Terrorism Risk Insurance Program: 

Additional Claims Issues; Insurer 

Affiliates

AGENCY: Departmental Offices, Treasury.

ACTION: Final rule.

SUMMARY: The Department of the 

Treasury (Treasury) is issuing this final 

rule as part of its implementation of title 

I of the Terrorism Risk Insurance Act of 

2002 (Act). The Act established a 

temporary Terrorism Insurance Program 

(Program) under which the Federal 

Government will share the risk of 

insured loss from certified acts of 

terrorism with commercial property and 

casualty insurers until the Program ends 

on December 31, 2005. This final rule 

clarifies that, for purposes of calculating 

direct earned premium and insurer 

deductibles and meeting the 

requirements for claiming the Federal 

share of compensation for insured losses 

for any Program Year, an insurer’s 

affiliates will be determined based on 

the insurer’s circumstances as of the 

date of occurrence of the act of terrorism 

that is the first act of terrorism certified 

by the Secretary for that Program Year.

DATES: This final rule is effective July 

14, 2005.

FOR FURTHER INFORMATION CONTACT:

Howard Leikin, Senior Insurance 

Advisor, or David Brummond, Legal 

Counsel, Terrorism Risk Insurance 

Program, (202) 622–6770 (not a toll-free 

number).

SUPPLEMENTARY INFORMATION: 

I. Background 

On November 26, 2002, the President 

signed into law the Terrorism Risk 

Insurance Act of 2002 (Pub. L. 107–297, 

116 Stat. 2322). The Act was effective 

immediately. The Act’s purposes are to 

address market disruptions, ensure the 

continued widespread availability and 

affordability of commercial property 

and casualty insurance for terrorism 

risk, and to allow for a transition period 

for the private markets to stabilize and 

build capacity while preserving state 

insurance regulation and consumer 

protections. Title I of the Act establishes 

a temporary Federal program of shared 

public and private compensation for 

insured commercial property and 

casualty losses resulting from an act of 

terrorism, which as defined in the Act 

is certified by the Secretary of the 

Treasury, in concurrence with the 

Secretary of State and the Attorney 

General. The Act authorizes Treasury to 

administer and implement the 

Terrorism Risk Insurance Program, and 

to issue regulations and procedures. The 

Program provides a Federal reinsurance 

backstop for three years. The Program 

ends on December 31, 2005. Thereafter, 

the Act provides Treasury with certain 

continuing authority to take actions as 

necessary to ensure payment, 

recoupment, adjustments of 

compensation, and reimbursement for 

insured losses arising out of any act of 

terrorism (as defined under the Act) 

occurring during the period between 

Federal Register / Vol. 70, No. 113 / Tuesday, June 14, 2005 / Rules and Regulations 34349

November 26, 2002, and December 31, 

2005. 

Each entity that meets the definition 

of ‘‘insurer’’ (well over 2000 firms) must 

participate in the Program. The amount 

of the Federal share of compensation for 

an insured loss resulting from an act of 

terrorism is to be determined based 

upon insurance company deductibles 

and excess loss sharing with the Federal 

Government, as specified by the Act and 

the implementing regulations. An 

insurer’s deductible increases each year 

of the Program, thereby reducing the 

Federal Government’s share prior to 

expiration of the Program. An insurer’s 

deductible is calculated based on a 

percentage of the value of direct earned 

premiums collected over certain 

statutory periods. Once an insurer has 

met its deductible, the Federal 

payments cover 90 percent of insured 

losses above the deductible, subject to 

an annual industry-aggregate limit of 

$100 billion. 

II. Proposed Rule and Overview of 

Comments 

Under the Act and regulations, 

‘‘affiliates’’ are treated collectively as 

one insurer for purposes of calculating 

the insurer deductible for a Program 

Year. Treasury issued a proposed rule 

on insurer affiliations, with a request for 

comment, on January 18, 2005 (70 FR 

2830). The proposed rule would have 

clarified subpart F of 31 CFR part 50, 

the claims procedures for insurers 

seeking the Federal share of 

compensation for insured losses. The 

proposed rule added new section 50.55, 

which provided that for purposes of 

subpart F, an insurer’s affiliates for any 

Program Year are to be determined 

based on the insurer’s circumstances as 

of the date of the first certified act of 

terrorism in that Program Year. This 

clarification was needed because 

affiliations of insurers may change over 

the course of a Program Year and there 

may be more than one certified act of 

terrorism in a Program Year. After 

careful consideration of comments on 

the proposed rule, Treasury is now 

issuing this final rule. 

Treasury received one comment on 

the proposed rule from an ad hoc 

industry working group that included 

members from eight national propertycasualty insurance trade associations, 

collectively representing insurers, 

reinsurers and producers. The 

commenter disagreed with the proposed 

rule, asserting that adoption of the 

‘‘fixed’’ affiliate status approach would 

lead to unintended compliance and 

administrative consequences for the 

industry and Treasury in the event of 

multiple terrorist acts during a Program 

Year. The working group recommended 

that Treasury adopt a regulation that 

would: ‘‘(a) tie Treasury or insurer 

action (e.g., reporting, claim payment) 

pursuant to TRIA to an insurer’s affiliate 

status as of the date of that action; and 

(b) determine an insurer’s TRIA 

deductible based on affiliate status as of 

the date of each certified terrorism event 

in any given Program Year.’’

Treasury appreciates the concerns 

raised by the commenter and has 

thoroughly reviewed the material 

provided. With the potential for changes 

in insurer affiliations during the year, an 

annual deductible presents 

implementation problems no matter 

how a final rule is constructed. 

However, the Act defines an insurer 

deductible on a Program Year basis. As 

further explained below in response to 

specific concerns, Treasury believes 

that, overall, fixing affiliations as of one 

event in a Program Year presents a more 

comprehensive solution to all of the 

potential implementation problems. 

After reviewing the comment provided, 

however, Treasury is modifying the 

proposed rule in certain respects to 

clarify and improve how the regulation 

would be applied. Specifically, the final 

rule provides that an insurer’s affiliates 

are determined by the circumstances 

existing on the date of occurrence of the 

act of terrorism that is the first act of 

terrorism in a Program Year to be 

certified by the Secretary for that 

Program Year. In addition, based on the 

comment presented, Treasury intends to 

provide for enough flexibility in its 

administration of the claims and 

payment process to accommodate, 

where possible, particular insurer 

circumstances. 

To assist in explaining its position, 

the commenter constructed several 

hypothetical scenarios which served to 

illustrate the concerns with the 

proposed rule. 

1. The industry working group 

presented Treasury with an example to 

illustrate how deductible and Federal 

share calculations would be applied 

with its suggested approach to 

affiliations, i.e., considered as of each 

certified act. In Treasury’s view, the 

suggested approach of calculation of the 

deductible at each event essentially 

produces an approach that blends a ‘‘per 

event’’ methodology with a 

methodology based on insurer 

affiliations as of the last certified act of 

terrorism in a Program Year. As more 

specifically explained in (a)–(d) below, 

after careful review of the example, 

Treasury continues to believe that the 

first certified act of terrorism must be 

the point in time that establishes insurer 

affiliations. 

(a) The working group’s approach 

relies on Treasury having to assume 

how the Federal payments for a first 

event are distributed within the insurer 

group in order to determine the 

appropriate deductible applicable to the 

new configuration of affiliations as of a 

second event. Specifically, the example 

provided assumes that Federal 

payments are allocated among affiliates 

in proportion to their share of the total 

insured losses of their insurer group. 

This may not be the way payments are 

actually allocated. 

(b) The example presents a simplified 

scenario where all claims from a first 

certified act of terrorism have been 

settled and paid prior to an insurer 

seeking the Federal share for claims 

arising from a second certified act. In a 

real situation it is much more likely that 

claims from the first event will continue 

to be submitted even as claims from the 

second event are presented. Thus, in 

such a scenario, it is unclear what 

deductible should be applied for losses 

arising out of the first event. Treasury 

anticipates that the administrative 

burden in processing such a mixture of 

claims exceeds the reasonable 

capabilities of the reporting and 

processing systems.

(c) The working group’s approach 

shifts deductible amounts based on the 

direct earned premium for an individual 

insurer within an insurer group to 

another insurer group as affiliations 

change. The suggested methodology for 

determining the group deductible for 

the new affiliation at the time of a 

subsequent certified act of terrorism can 

lead to duplicative application of 

deductible amounts within a single 

Program Year. This is contrary to the 

Act’s requirement of applying a single 

calendar year deductible to the insured 

losses of insurers. 

(d) As noted above, the Act requires 

the application of a single calendar year 

deductible to the insured losses of each 

insurer. Since Treasury has no separate 

contracts with insurers, there is less 

flexibility in dealing with the 

allocations and calculations proposed 

by the commenter than what the 

commenter suggests. The working 

group’s approaches to allocating the 

deductible and to calculating the 

Federal share seem more appropriate as 

items subject to negotiation in crafting 

the terms of a merger or acquisition 

agreement than a Federal rulemaking. 

2. The working group noted that 

pursuant to the proposed rule, in a 

Program Year with multiple certified 

acts of terrorism, even a minimal first 

event involving insured losses for only 

one insurer would fix affiliations for the 

entire industry. The working group also 

34350 Federal Register / Vol. 70, No. 113 / Tuesday, June 14, 2005 / Rules and Regulations 

noted that the order in which events are 

actually certified as acts of terrorism 

may be different than the order in which 

such events occurred. Consequently, the 

proposed rule could result in claims 

reporting and Federal payments being 

made under a set of affiliations that does 

not match the affiliations that were in 

place at the time of the first act of 

terrorism in a Program Year. 

Treasury has extensively reviewed 

both of these concerns. Having 

concluded that calculating the insurer 

deductible and processing the Federal 

share of compensation requires insurer 

affiliations to be fixed at a single point 

in a Program Year, Treasury examined 

how, within that constraint, the 

commenter’s two concerns could be 

addressed. To address the first concern, 

i.e., minimal first event fixing 

affiliations for the entire industry, 

Treasury reconsidered the alternative 

discussed in the preamble of the 

proposed rule of establishing affiliations 

as of the first event for which an insurer, 

or any affiliates, actually had insured 

losses. In reexamining this alternative in 

conjunction with addressing the second 

concern, i.e., the order in which acts of 

terrorism are certified may be different 

than the order in which the acts occur, 

it became apparent that crafting a final 

rule that would address both concerns 

raised by the working group resulted in 

an overly complex process for 

determining affiliations. Treasury has 

concluded that it is more important to 

clarify that the first certified act of 

terrorism will be based on the 

certification date, not the occurrence 

date of the underlying act giving rise to 

certification. This will allow for the 

expeditious processing of claims for the 

Federal share without having to depend 

on a certification being made for a prior 

terrorist event that may still be under 

investigation. For the final rule, 

Treasury has thus clarified the 

regulation to provide generally that an 

insurer’s affiliations are determined by 

the circumstances on the date of 

occurrence of the act that is the first act 

of terrorism certified by the Secretary 

for the Program Year. This is illustrated 

in the following example.

A possible act of terrorism occurs in 

March for which investigations begin. In 

the meantime a second terrorist event 

occurs in September that is readily 

identifiable as an act of terrorism under 

the Act and is certified by the Secretary 

in October. The March event is certified 

by the Secretary in November. In this 

case, the first certified act used to 

determine affiliations for the Program 

Year would be the September terrorist 

event. Affiliations would be fixed for 

the entire Program Year as of the 

occurrence date of the act of terrorism 

in September. 

3. The working group stated that the 

proposed rule would not treat insurers 

equitably because as affiliations change, 

the effective deductible for an insurer 

deviates from the Act’s mandated 15 

percent for Program Year 3. Treasury 

disagrees that the proposed or final rule 

results in inequitable treatment of 

insurers. The working group’s example 

calculations, based on its hypothetical 

scenarios, purport to show that the 

proposed rule results in the insurer 

deductible deviating from the mandated 

15 percent of ‘‘direct earned premium’’

(DEP) for a second act of terrorism. This 

point is based on the premise that the 

deductible can vary as of each event 

based on the affiliations at the time of 

each event. This is not possible with an 

annual deductible as mandated by the 

Act. The commenter’s proposal would 

result in the re-computation of 

deductibles and payments for losses for 

the entire Program Year based on 

affiliations as of the last act of terrorism 

in the Program Year. The same logic 

used in the example could then be 

applied to the prior event to show that 

now the deductible in that first event 

deviated from the required 15 percent 

insurer deductible. Treasury’s rule 

applies the deductible, set at 15 percent 

of DEP for the affiliated structure at the 

time of the first terrorism event, 

consistently throughout the Program 

Year. 

4. The working group asserted that 

complications would arise from the 

proposed rule’s impact on producers 

because disclosure requirements may 

have been met by sending the 

disclosures through producers. The 

commenter noted that the proposed 

rule’s ‘‘fictional’’ affiliations could 

require an agent to assist an insurer in 

certifying compliance with the Act’s 

notice requirements where the agent no 

longer has any legal relationship with 

the insurer. Treasury appreciates the 

concern raised by producers that they 

may be called upon to assist an insurer 

in certifying compliance. The issue that 

is raised, however, is not related to the 

Program’s proposed treatment of 

affiliations, but is rooted in the fact that 

affiliations may change over time, even 

in the aftermath of a single event or 

independent of any event. Treasury 

expects an insurer to be able to certify 

that disclosures have been made and 

that records are available for audit, if 

necessary. Treasury has recognized that 

insurers may or may not carry out their 

disclosure responsibilities through 

producers. Whatever approach is taken 

is an insurer decision on how to comply 

with the Act’s disclosure requirements. 

In any case, Treasury believes the 

decision to call upon producers to 

certify or otherwise document insurer 

compliance with the Program’s 

disclosure requirements is a prerogative 

of the insurer. 

III. Final Rule 

The final rule adds new section 50.55 

and provides that for the purposes of 

subpart F (Claims Procedures), an 

insurer’s affiliates for any Program Year 

shall be determined by the 

circumstances existing on the date of 

occurrence of the act of terrorism that is 

the first act of terrorism in a Program 

Year to be certified by the Secretary. 

The final rule also includes a technical 

change to the definition of ‘‘affiliate’’ in 

section 50.5(c) to provide a crossreference to section 50.55. 

This final rule provides additional 

guidance to insurers on how affiliations 

will be viewed for purposes of 

calculating the insurer deductible under 

the Act and otherwise meeting 

requirements of subpart F. By clarifying 

insurer rights and obligations that were 

cited as concerns by the working group, 

this rulemaking makes available 

information relevant to insurers 

evaluating and addressing risks 

associated with corporate restructuring. 

Treasury recognizes that claim 

submissions and Federal payments for 

insured losses may continue for years 

following a certified act of terrorism. 

Consequently, over time, processing 

difficulties may arise from a change in 

an insurer’s affiliation status whether or 

not more than one certified act of 

terrorism occurs in a Program Year. 

Within the scope of this rule and other 

constraints on Treasury in 

administering the claims process, 

Treasury will strive for ease of 

operations. This could, for example, 

involve recognition of alternative 

reporting structures where there is no 

impact on insurer deductibles and/or 

the amount of the Federal share of 

compensation owed to affected insurers. 

Treasury may make adjustments in its 

procedures, promulgate revised rules, or 

on a case-by-case basis enter into 

agreements with the involved parties to 

address administrative difficulties 

arising from changes in insurer 

affiliations once insured losses have 

been incurred.

IV. Procedural Requirements 

Executive Order 12866, ‘‘Regulatory 

Planning and Review’’. This rule is not 

a significant regulatory action for 

purposes of Executive Order 12866, 

‘‘Regulatory Planning and Review,’’ and 

therefore has not been reviewed by the 

Office of Management and Budget. 

Federal Register / Vol. 70, No. 113 / Tuesday, June 14, 2005 / Rules and Regulations 34351

Regulatory Flexibility Act. Pursuant 

the Regulatory Flexibility Act, 5 U.S.C. 

601 et seq., it is hereby certified that the 

final rule will not have a significant 

economic impact on a substantial 

number of small entities. Treasury is 

required to pay the Federal share of 

compensation to insurers for insured 

losses in accordance with the Act. A 

condition of Federal payment is that the 

insurer must submit to Treasury, in 

accordance with procedures established 

by Treasury, a claim for payment and 

certain certifications. The Act itself 

requires all insurers receiving direct 

earned premium for any type of 

property and casualty insurance, as 

defined in the Act, to participate in the 

Program. This includes all insurers 

regardless of size or sophistication. The 

Act also defines property and casualty 

insurance to mean commercial lines of 

insurance without any reference to size 

or scope of the insurer or the insured. 

Accordingly, any economic impact 

associated with the proposed rule flows 

from the Act and not the proposed rule. 

The rule merely clarifies the point in 

time at which insurer affiliations are 

determined for purposes of the Program. 

A regulatory flexibility analysis is thus 

not required.

List of Subjects in 31 CFR Part 50

Terrorism Risk Insurance.

Authority and Issuance

■ For the reasons set forth above, 31 CFR 

is amended as follows:

PART 50—TERRORISM RISK 

INSURANCE PROGRAM

■ 1. The authority citation for part 50 

continues to read as follows:

Authority: 5 U.S.C. 301; 31 U.S.C. 321; 

Title I, Pub. L. 107–297, 116 Stat. 2322 (15 

U.S.C. 6701 note).

■ 2. Section 50.5 of subpart A is 

amended by adding paragraph (c)(6) to 

read as follows:

§ 50.5 Definitions.

* * * * *

(c) * * *

(6) See § 50.55 of this part for 

determination of an insurer’s affiliates 

for purposes of subpart F.

* * * * *

■ 3. Subpart F of part 50 is amended by 

adding § 50.55 to read as follows:

§ 50.55 Determination of Affiliations. 

For the purposes of subpart F, an 

insurer’s affiliates for any Program Year 

shall be determined by the 

circumstances existing on the date of 

occurrence of the act of terrorism that is 

the first act of terrorism in a Program 

Year to be certified by the Secretary for 

that Program Year.

Dated: June 8, 2005. 

Gregory Zerzan, 

Acting Assistant Secretary of the Treasury.

[FR Doc. 05–11684 Filed 6–13–05; 8:45 am] 

BILLING CODE 4810–02–P

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 117 

[CGD08–05–034] 

RIN 1625–AA09 

Drawbridge Operation Regulation; 

Tchoutacabouffa River, Cedar Lake, 

MS

AGENCY: Coast Guard, DHS.

ACTION: Temporary final rule.

SUMMARY: The Commander, Eighth 

Coast Guard District, has temporarily 

changed the regulation governing the 

operation of the Cedar Lake Road Swing 

Span drawbridge across the 

Tchoutacabouffa River, mile 8.0, at 

Cedar Lake, Harrison County, 

Mississippi. The rule states that the 

draw of the bridge shall open on signal 

with twenty-four hours notice; except 

that the draw will remain closed to 

navigation Monday through Friday from 

June 27 through October 28, 2005 with 

the exception of July 4, 2005. However, 

from August 1 through September 23, 

2005 it will open on signal with twentyfour hours notice every other weekend, 

beginning with the weekend of August 

13, 2005. The closure is necessary for 

remedial structural repairs to be made to 

the bridge that are essential for the 

continued operation of the draw span.

DATES: This temporary rule is effective 

from 7 a.m. on June 27, 2005 to 6 p.m. 

on October 28, 2005.

ADDRESSES: Documents referred to in 

this rule are available for inspection or 

copying at the office of the Eighth Coast 

Guard District, Bridge Administration 

Branch, 500 Poydras Street, New 

Orleans, Louisiana 70130–3310, 

between 7 a.m. and 3 p.m., Monday 

through Friday, except Federal holidays. 

The telephone number is (504) 589–

2965. The Eighth District Bridge 

Administration Branch maintains the 

public docket for this rulemaking.

FOR FURTHER INFORMATION CONTACT: Phil 

Johnson, Bridge Administration Branch, 

(504) 589–2965.

SUPPLEMENTARY INFORMATION: 

Good Cause for Not Publishing an 

NPRM 

We did not publish a notice of 

proposed rulemaking (NPRM) for this 

regulation. Under 5 U.S.C. 553(b)(B), the 

Coast Guard finds that good cause exists 

for not publishing an NPRM. The City 

of Biloxi has recently become 

responsible for maintenance of this 

bridge and upon initial inspection, 

discovered that remedial structural 

repairs must be done expediently to 

prevent the waterway from being 

obstructed. As a result, publishing an 

NPRM would be contrary to the public 

interest. 

Good Cause for Making Rule Effective 

in Less Than 30 Days 

Under 5 U.S.C. 553(d)(3), the Coast 

Guard finds that good cause exists for 

making this rule effective in less than 30 

days after publication in the Federal 

Register. The required repairs must be 

done expediently because there is a 

substantial risk that emergency 

breakdowns will occur, causing the 

waterway to be obstructed for lengthy 

periods of time. 

Background and Purpose 

The City of Biloxi has requested a 

temporary rule changing the operation 

of the bascule span drawbridge across 

the Tchoutacabouffa River, mile 8.0 at 

Cedar Lake, Harrison County, 

Mississippi. Recently, maintenance 

responsibility for the bridge was 

transferred from Harrison County to the 

City of Biloxi. City bridge engineers 

conducted an inspection of the bridge 

and found that the swing span of the 

bridge had numerous badly deteriorated 

steel structural members. In order to 

maintain the operation of the swing 

span in a safe, efficient manner, 

expedient remedial repair is needed. 

The contractor for the City of Biloxi 

plans to remove and replace existing 

structural members from June 27 

through August 1, 2005. This will 

require closures of five days at a time. 

During the period between August 1 and 

September 23, 2005, the bridge will 

need to be closed to navigation to 

facilitate replacing steel members and 

adding additional steel members then 

balancing the swing span. During the 

period between September 23 and 

October 28, 2005, the contractor will 

sand blast and paint the entire structure. 

This rule allows the draw of the bridge 

to remain closed to navigation 

continuously, Monday through Friday 

from June 27 through October 28, 2005. 

It will open on signal with twenty-four 

hours notice every weekend during this 

period, except from August 1, 2005