View all text of Chapter 19 [§ 981 - § 990]
§ 988. Rates of charges or tolls
(a) Negotiation with Canadian authorities; revenue sharing formula; consideration of American financing costs, including interest and debt principal; rules of measurement; hearings and rehearings; approval by President; court review
(b) Principles governing establishment of rates
In the course of its negotiations, or in the establishment, unilaterally, of the rates of charges or tolls as provided in subsection (a), the Corporation shall be guided by the following principles:
(1) That the rates shall be fair and equitable and shall give due consideration to encouragement of increased utilization of the navigation facilities, and to the special character of bulk agricultural, mineral, and other raw materials.
(2) That rates shall vary according to the character of cargo with the view that each classification of cargo shall so far as practicable derive relative benefits from the use of these facilities.
(3) That the rates on vessels in ballast without passengers or cargo may be less than the rates for vessels with passengers or cargo.
(4) That the rates prescribed shall be calculated to cover, as nearly as practicable, all costs of operating and maintaining the works under the administration of the Corporation, including depreciation and payments in lieu of taxes.
(May 13, 1954, ch. 201, § 12, 68 Stat. 96; Pub. L. 91–469, § 43(b), Oct. 21, 1970, 84 Stat. 1038; Pub. L. 95–91, title IV, § 402(a)(1)(B), Aug. 4, 1977, 91 Stat. 583; Pub. L. 97–369, title III, § 311, Dec. 18, 1982, 96 Stat. 1782; Pub. L. 100–352, § 6(h), June 27, 1988, 102 Stat. 664.)