80 FR 26442 - Drawbridge Operation Regulation; Navesink (Swimming) River, Middletown and Rumson, NJ
DEPARTMENT OF HOMELAND SECURITY
Coast Guard Federal Register Volume 80, Issue 89 (May 8, 2015)
Coast Guard
Federal Register Volume 80, Issue 89 (May 8, 2015)
| Page Range | 26442-26443 | |
| FR Document | 2015-11188 |
[Federal Register Volume 80, Number 89 (Friday, May 8, 2015)] [Rules and Regulations] [Pages 26442-26443] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-11188] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF HOMELAND SECURITY Coast Guard 33 CFR Part 117 [Docket No. USCG-2015-0366] Drawbridge Operation Regulation; Navesink (Swimming) River, Middletown and Rumson, NJ AGENCY: Coast Guard, DHS. ACTION: Notice of deviation from drawbridge regulation. ----------------------------------------------------------------------- SUMMARY: The Coast Guard has issued a temporary deviation from the operating schedule that governs the operation of the Oceanic Bridge across the Navesink (Swimming) River, mile 4.5, between Middletown and Rumson, New Jersey. This deviation allows the bridge owner to perform structural repairs at the bridge. This deviation allows the bridge to open only one of the two moveable spans for passage of vessels traffic. This temporary deviation would help facilitate repairs to the bascule span bearing while continuing to meet the reasonable needs of navigation. DATES: This deviation is effective from May 26, 2015 through June 12, 2015. ADDRESSES: The docket for this deviation, [USCG-2015-0366] is [[Page 26443]] available at http://www.regulations.gov. Type the docket number in the ``SEARCH'' box and click ``SEARCH.'' Click on Open Docket Folder on the line associated with this deviation. You may also visit the Docket Management Facility in Room W12-140, on the ground floor of the Department of Transportation West Building, 1200 New Jersey Avenue SE., Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. FOR FURTHER INFORMATION CONTACT: If you have questions on this temporary deviation, call or email Mr. Joe M. Arca, Project Officer, First Coast Guard District, telephone (212) 514-4336, [email protected]. If you have questions on viewing the docket, call Ms. Cheryl Collins, Program Manager, Docket Operations, telephone (202) 366-9826. SUPPLEMENTARY INFORMATION: The Oceanic Bridge across Navesink (Swimming) River, mile 4.5, between Middletown and Rumson, New Jersey, has a vertical clearance in the closed position of 22 feet at mean high water and 25 feet at mean low water, and horizontal clearance of 75 feet. The existing bridge operating regulations are found at 33 CFR 117.734. The waterway is transited by seasonal recreational vessels of various sizes. The bridge owner, Monmouth County, requested a temporary deviation from the normal operating schedule to facilitate repairs to the bascule span bearing. Under this temporary deviation the Oceanic Bridge shall open on signal, except that, from May 26, 2015 through June 12, 2015, only one of the two moveable spans need open for the passage of vessels traffic. There are no alternate routes for vessel traffic. The Coast Guard will inform the users of the waterways through our Local and Broadcast Notice to Mariners of the change in operating schedule for the bridges so that vessels can arrange their transits to minimize any impact caused by the temporary deviation. In accordance with 33 CFR 117.35(e), the drawbridge must return to its regular operating schedule immediately at the end of the effective period of this temporary deviation. This deviation from the operating regulations is authorized under 33 CFR 117.35. Dated: April 30, 2015. C.J. Bisignano, Supervisory Bridge Management Specialist, First Coast Guard District. [FR Doc. 2015-11188 Filed 5-7-15; 8:45 am] BILLING CODE 9110-04-P
![26442 Federal Register / Vol. 80, No. 89 / Friday, May 8, 2015 / Rules and Regulations
term of the contract. All collateral on the Example 1. Full margin—cleared contract. upfront payment and daily variation margin
contract is required to be in U.S. dollars. (i) A domestic corporation (U.S.C.) wholly in an amount equal to the change in the fair
(ii) Because the contract is required to be owns a controlled foreign corporation (CFC) market value of the contract on a daily basis
collateralized in an amount equal to the that is a dealer in securities under section for the entire term of the contract, the
upfront payment and changes in the fair 475(c)(1). CFC enters into an interest rate contract is described in § 1.446–
market value of the contract on a daily basis swap contract with unrelated counterparty B. 3T(g)(4)(ii)(B)(2). Furthermore, because the
for the entire term of the contract, the The contract is required to be cleared and is additional conditions set forth in this
contract is described in paragraph accepted for clearing by a U.S.-registered paragraph (b)(1)(xi) are satisfied, the
(g)(4)(ii)(B)(2) of this section and paragraph derivatives clearing organization (DCO). CFC obligation of U.S.C. arising from the upfront
(g)(4)(i) of this section does not apply to the is not a member of the DCO. CFC uses a U.S. payment by CFC does not constitute United
contract. affiliate (CM), which is a member of the DCO, States property for purposes of section 956.
as its clearing member to submit the contract
(h) through (j)(1) [Reserved]. For to be cleared. CM is a domestic corporation * * * * *
further guidance, see § 1.446–3(h) that is wholly owned by U.S.C.. The (f) Effective/applicability date.
through (j)(1). standardized terms of the contract provide Paragraph (b)(1)(xi) of this section
(2) Application of § 1.446–3T(g)(4). that, for a term of X years, CFC will pay B applies to payments described in
The rules provided in paragraph (g)(4)(i) a fixed coupon of 1% per year and receive § 1.956–2T(b)(1)(xi) made on or after
a floating coupon on a notional principal May 8, 2015. Taxpayers may apply the
of this section apply to notional amount of $Y. When CFC and B enter into
principal contracts entered into on or rules of paragraph (b)(1)(xi) to payments
the contract, the market coupon for similar
after November 4, 2015. Taxpayers may interest rate swaps is 2% per year. The DCO
made before May 8, 2015.
apply the rules provided in paragraph requires CFC to make an upfront payment to (g) Expiration date. The applicability
(g)(4)(i) of this section to notional compensate B for the below-market annual of paragraph (b)(1)(xi) of this section
principal contracts entered into before coupon payments that B will receive, and expires on May 7, 2018.
November 4, 2015. The rules provided CFC makes the upfront payment in cash. CFC
makes the upfront payment through CM to John M. Dalrymple,
in paragraph (g)(4)(ii) of this section Deputy Commissioner for Services and
the DCO, which then makes the payment to
apply to notional principal contracts B. The DCO also requires B to post initial Enforcement.
entered into on or after May 8, 2015. variation margin in an amount equal to the Approved: April 29, 2015.
Taxpayers may apply the rules provided upfront payment and requires each party to Mark J. Mazur,
in paragraph (g)(4)(ii) of this section to post and collect daily variation margin in an
notional principal contracts entered into amount equal to the change in the fair market Assistant Secretary of the Treasury (Tax
value of the contract on a daily basis for the Policy).
before May 8, 2015. For the rules that
apply to notional principal contracts entire term of the contract. B posts the initial [FR Doc. 2015–11092 Filed 5–7–15; 8:45 am]
variation margin in U.S. dollars, which is BILLING CODE 4830–01–P
with nonperiodic payments entered into received by CFC (through DCO and CM), and
before the dates set forth in this the parties post and collect daily variation
paragraph (j)(2), see § 1.446–3(g)(4) as margin in U.S. dollars.
contained in 26 CFR part 1, revised (ii) Because the contract is subject to initial DEPARTMENT OF HOMELAND
April 1, 2015. variation margin in an amount equal to the SECURITY
(k) Expiration date. The applicability upfront payment and daily variation margin
of paragraph (g)(4) of this section and in an amount equal to the change in the fair Coast Guard
paragraph (g)(6) Examples 2, 3 and 4 of market value of the contract on a daily basis
for the entire term of the contract, the 33 CFR Part 117
this section expires May 7, 2018. contract is described in § 1.446–
■ Par. 4. Section 1.956–2T is amended 3T(g)(4)(ii)(B)(1). Furthermore, because the [Docket No. USCG–2015–0366]
by revising paragraphs (b)(1)(xi), (f) and additional conditions set forth in this
(g) to read as follows: paragraph (b)(1)(xi) are satisfied, the Drawbridge Operation Regulation;
obligation of CM arising from the upfront Navesink (Swimming) River,
§ 1.956–2T Definition of United States payment by CFC does not constitute United Middletown and Rumson, NJ
property (temporary). States property for purposes of section 956.
* * * * * Example 2. Full margin—uncleared AGENCY: Coast Guard, DHS.
(b) * * * contract. (i) Assume the same facts as in ACTION:Notice of deviation from
Example 1, except for the following. CFC’s drawbridge regulation.
(1) * * * counterparty to the contract is U.S.C., CM is
(xi) An obligation of a United States not involved, and the contract is not required
person arising from a nonperiodic SUMMARY: The Coast Guard has issued a
to be cleared and is not accepted for clearing
payment by a controlled foreign temporary deviation from the operating
by a U.S.-registered derivatives clearing
corporation (within the meaning of organization. The contract requires CFC to schedule that governs the operation of
section 957(a)) with respect to a make an upfront payment to compensate the Oceanic Bridge across the Navesink
notional principal contract described in U.S.C. for the below-market annual coupon (Swimming) River, mile 4.5, between
§ 1.446–3T(g)(4)(ii)(B)(1) or (2) if the payments that U.S.C. will receive, and CFC Middletown and Rumson, New Jersey.
following conditions are satisfied—
makes the upfront payment in U.S. dollars. This deviation allows the bridge owner
Pursuant to the requirements of a federal to perform structural repairs at the
(A) The controlled foreign corporation regulator, U.S.C. is obligated to post initial
that makes the nonperiodic payment is bridge. This deviation allows the bridge
variation margin with CFC in an amount
either a dealer in securities (within the to open only one of the two moveable
equal to CFC’s upfront payment, and U.S.C.
meaning of section 475(c)(1)) or a dealer and CFC are obligated to post and collect spans for passage of vessels traffic. This
temporary deviation would help
asabaliauskas on DSK5VPTVN1PROD with RULES
in commodities; and daily variation margin in an amount equal to
(B) The conditions set forth in the change in the fair market value of the facilitate repairs to the bascule span
§ 1.446–3T(g)(4)(ii)(C)(1) (relating to full contract on a daily basis for the entire term bearing while continuing to meet the
margin or collateral in cash) are
of the contract. U.S.C. posts the initial reasonable needs of navigation.
variation margin in U.S. dollars, which is DATES: This deviation is effective from
satisfied. received by CFC, and the parties post and
(C) Examples. The following collect daily variation margin in U.S. dollars.
May 26, 2015 through June 12, 2015.
examples illustrate the application of (ii) Because the contract is subject to initial ADDRESSES: The docket for this
this paragraph (b)(1)(xi): variation margin in an amount equal to the deviation, [USCG–2015–0366] is
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![Federal Register / Vol. 80, No. 89 / Friday, May 8, 2015 / Rules and Regulations 26443
available at http://www.regulations.gov. DEPARTMENT OF HOMELAND of the Administrative Procedure Act
Type the docket number in the SECURITY (APA) (5 U.S.C. 553(b)). This provision
‘‘SEARCH’’ box and click ‘‘SEARCH.’’ authorizes an agency to issue a rule
Click on Open Docket Folder on the line Coast Guard without prior notice and opportunity to
associated with this deviation. You may comment when the agency for good
also visit the Docket Management 33 CFR Part 165 cause finds that those procedures are
Facility in Room W12–140, on the [Docket Number USCG–2015–0287]
‘‘impracticable, unnecessary, or contrary
ground floor of the Department of to the public interest.’’ Under 5 U.S.C.
Transportation West Building, 1200 RIN 1625–AA00 553(b)(B), the Coast Guard finds that
New Jersey Avenue SE., Washington, good cause exists for not publishing a
DC 20590, between 9 a.m. and 5 p.m., Safety Zone, Pamlico River; notice of proposed rulemaking (NPRM)
Monday through Friday, except Federal Washington, NC with respect to this rule because
holidays. AGENCY: Coast Guard, DHS. immediate action is required to provide
FOR FURTHER INFORMATION CONTACT: If ACTION: Temporary final rule. for the safety of mariners on the
you have questions on this temporary navigable waters during the fireworks
deviation, call or email Mr. Joe M. Arca, SUMMARY: The Coast Guard is display on May 25, 2015. Delaying the
Project Officer, First Coast Guard establishing a temporary safety zone on effective date for comment would be
District, telephone (212) 514–4336, the Pamlico River in Washington, NC. contrary to the public interest, since
joe.m.arca@uscg.mil. If you have This action is necessary to protect the immediate action is needed to ensure
questions on viewing the docket, call life and property of the maritime public protection of persons and vessels
Ms. Cheryl Collins, Program Manager, from the hazards posed by fireworks transiting the area.
Docket Operations, telephone (202) displays. Entry into or movement within For similar reasons, under 5 U.S.C.
366–9826. the safety zone during the enforcement 553(d)(3), the Coast Guard finds that
SUPPLEMENTARY INFORMATION: The period is prohibited without approval of good cause exists for making this rule
Oceanic Bridge across Navesink the Captain of the Port or his designated effective less than 30 days after
(Swimming) River, mile 4.5, between Representative. publication in the Federal Register.
Middletown and Rumson, New Jersey, DATES: This rule is effective from 8:30 B. Basis and Purpose
has a vertical clearance in the closed p.m. to 9:30 p.m. on May 25, 2015. The legal basis for this rule is 33
position of 22 feet at mean high water ADDRESSES: Documents mentioned in U.S.C. 1231; 50 U.S.C. 191; 33 CFR
and 25 feet at mean low water, and this preamble are part of docket [USCG– 1.05–1, 6.04–1, 6.04–6, 160.5; and DHS
horizontal clearance of 75 feet. The 2015–0287]. To view documents Delegation No. 0170.1, which
existing bridge operating regulations are mentioned in this preamble as being collectively authorize the Coast Guard
found at 33 CFR 117.734. available in the docket, go to http:// to propose, establish, and define
The waterway is transited by seasonal www.regulations.gov, type the docket regulatory safety zones.
recreational vessels of various sizes. number in the ‘‘SEARCH’’ box and click The purpose of this safety zone is to
The bridge owner, Monmouth County, ‘‘SEARCH.’’ Click on Open Docket protect mariners and the public from
requested a temporary deviation from Folder on the line associated with this hazards to navigation associated with
the normal operating schedule to rulemaking. You may also visit the the fireworks displays on Pamlico River
facilitate repairs to the bascule span Docket Management Facility in Room in Washington, NC on May 25, 2015.
bearing. W12–140 on the ground floor of the
Under this temporary deviation the Department of Transportation West C. Discussion of the Final Rule
Oceanic Bridge shall open on signal, Building, 1200 New Jersey Avenue SE., On May 25, 2015, the Washington
except that, from May 26, 2015 through Washington, DC 20590, between 9 a.m. Harbor District Alliance will sponsor a
June 12, 2015, only one of the two and 5 p.m., Monday through Friday, fireworks display for the ‘‘Memorial Day
moveable spans need open for the except Federal holidays. Event’’ at a position located on the
passage of vessels traffic. southwest shore of the Pamlico River in
There are no alternate routes for FOR FURTHER INFORMATION CONTACT: If
you have questions on this rule, call or Washington, NC at latitude 35°32′25″ N
vessel traffic. longitude 077°03′42″ W. The fireworks
The Coast Guard will inform the users email LT Derek J. Burrill, Waterways
Management Division Chief, Sector debris fallout area will extend over the
of the waterways through our Local and
North Carolina, Coast Guard; telephone navigable waters of the Pamlico River.
Broadcast Notice to Mariners of the
(910) 772–2230, email Derek.J.Burrill@ Due to the need to protect mariners and
change in operating schedule for the
uscg.mil. If you have questions on spectators from the hazards associated
bridges so that vessels can arrange their
viewing or submitting material to the with the fireworks display, including
transits to minimize any impact caused
docket, call Cheryl Collins, Program accidental discharge of fireworks,
by the temporary deviation.
In accordance with 33 CFR 117.35(e), Manager, Docket Operations, telephone dangerous projectiles, and falling hot
the drawbridge must return to its regular (202) 366–9826. embers or other debris, vessel traffic
operating schedule immediately at the SUPPLEMENTARY INFORMATION: will be temporarily restricted from
end of the effective period of this transiting within the fireworks launch
Table of Acronyms and fallout area. This safety zone will be
temporary deviation. This deviation
from the operating regulations is DHS Department of Homeland Security established and enforced from 8:30 p.m.
asabaliauskas on DSK5VPTVN1PROD with RULES
authorized under 33 CFR 117.35. FR Federal Register to 9:30 p.m. on May 25, 2015.
NPRM Notice of Proposed Rulemaking Access to the safety zone will be
Dated: April 30, 2015. restricted during the specified date and
C.J. Bisignano, A. Regulatory History and Information times. Except for vessels authorized by
Supervisory Bridge Management Specialist, The Coast Guard is issuing this the Captain of the Port or his
First Coast Guard District. temporary final rule without prior Representative, no person or vessel may
[FR Doc. 2015–11188 Filed 5–7–15; 8:45 am] notice and opportunity to comment enter or remain in the regulated area.
BILLING CODE 9110–04–P pursuant to authority under section 4(a) The Captain of the Port will give notice
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Document Created: 2018-02-21 10:24:28
Document Modified: 2018-02-21 10:24:28
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Rules and Regulations | |
| Action | Notice of deviation from drawbridge regulation. | |
| Dates | This deviation is effective from May 26, 2015 through June 12, 2015. | |
| Contact | If you have questions on this temporary deviation, call or email Mr. Joe M. Arca, Project Officer, First Coast Guard District, telephone (212) 514-4336, [email protected] If you have questions on viewing the docket, call Ms. Cheryl Collins, Program Manager, Docket Operations, telephone (202) 366-9826. | |
| FR Citation | 80 FR 26442 |
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