Page:United States Statutes at Large Volume 45 Part 1.djvu/1214

 SEVENTIETH C ONGRESS. SEss. II. CH. 177 . 1929 . 1163 approaches, and any interest in real property necessary therefor, by purchase or by condemnation or expropriation, in accordance with Condemnation pro- the laws of such State governing the acquisition of private property ceedings . for publ ic p urpo ses by c onde mnat ion or e xpro pria tion . If at any Compensation if Re- quired by condemna- time after the expiration of five years after the completion of such tion, etc. bridge the sa me is acquired by condemnation or expropriation, the amount of damages or compensation to be allowed shall not include good will, going value, or rospective revenues or profits, but shall be limited to the sum of ( p1) the actual cost of constructing such Limitations . bridge and its approaches, less a reasonable deduction for actual de- pr ec iat io n in v al ue ; (2) the actual cost of acquiring such interests in real property ; (3) actual financing and prom otion cost, not to exceed 10 per centum of the sum of the cost of constructing the bridge and its approaches and acquiring such interests in real prop- er ty ; and (4) actual expenditures for necessary improvements. SEC. 3. If such bridge shall at any time be taken over or acquired etc ., oper atio n . State, by the State of Ohio, or by any municipality or other political sub- division or public agency thereof, under the provisions of section 2 of this Act, and if tolls are thereafter charged for the use thereof, the rates of toll shall be so ad j usted as to provide a fund sufficient Rates applied t f op- the sinking fund, topayforthereasonablecostofmaintaining,repairing,andoperat-etcg ing the bridge and its approaches under economical management and to provide a sinking fund sufficient to amortize the amount paid therefor, including reasonable interest and financing cost, as soon as possible under reasonable charges, but within a period of not to exceed twenty years from the date of acquiring the same . After a bridgelbisintenance as free , etc ., after sinking fund sufficient for such amortization shall have been so pro- tizing costs . vided, such bridge shall thereafter be maintained and operated free of tolls, or the rates of toll shall thereafter be so adjusted as to pro- vide a fund of not to exceed the amount necessary for the proper maintenance, repair, and operation of the bridge and its approaches under economical management. An accurate record of the amount Record of expendi- paid for acquiring the bridge and its approaches, the actual expendi- tures and receipts . tures for maintaining, repairing, and operating the same, and of the daily tolls collected shall be kept and shall be available for the infor- mation of all persons interested. SEC. 4. The Cedar Point Bridge Company, its successors andconstSworn statement of ru ctio n n etc ., costs, assigns, shall, within ninety days after the completion of such bridge. t o he filed after com- file with the Secretary of War and with the highway department of plet'on. the State of Ohio, a sworn itemized statement showing the actual o rigi nal cost of cons truc ting the bri dge and its appr oach es, the actu al cost of acquiring any interest in real property necessary therefor, and Investigation by See- the actual financing and promotion costs. The Secretary of War retary of war. may, and at the request of the highway department of the State of Ohio shall, at any time within three years after the completion of such bridge, investigate such costs and determine, the accuracy and the reasonableness of the costs alleged in the statement of costs so filed, end shall make a finding of the actual and reasonable costs of con- stru ctin g, f inan cing, an d pr omot ing such bri dge ; for the purpose of such investigation the said Cedar Point Bridge Company, its suc- cessors and assins, shall make available all of its records in con- L_ Findings of Secretary nection with the construction, financing, and promotion thereof. The conclusive. findings of the Secretary of War as to the reasonable costs of con- struction, financing, and promotion of the bridge shall be conclusive for the purposes mentioned in section 2 of this Act, subject only to review in a court of equity for fraud or gross mistake. Right to sell, etc ., SEC. 5. The right to sell, assign, transfer, and mortgage all the conferred. rights, powers, and privileges conferred by this Act is hereby granted to the Cedar Point Bridge Company, its successors and assigns, and any corporation to which or any person to whom such rights, powers, 54835°-29-pr 1-77

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