Page:United States Statutes at Large Volume 45 Part 1.djvu/1361

 1310 SEVEN TIETH C ONGRESS. Suss. II. CH. 328. 1929 . sum of th e cost of cons tructing the bridge and it s approaches a nd acquiring such interest in real property ; and (4) actual expenditures for neces sary improveme nts. Te ns unde r state, etc ., op eration. SEC. 5 . If such bridge shall at any time be taken over or acquired by the States or public agencies or political subdivisions thereof, or by either of them, as provided in section 4 of this Act, and if operation, sinking to tolls are thereafter charged for the use thereof, the rates of toll inking b fund, etc ° shall be so adjusted as to provide a fund sufficient to pay for the reasonable cost of maintaining, repairing, and operating 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 3faintenance as free under reasonable charges, but within a period of not to exceed twenty bridge, etc ., after years from the date of acquiring the same. After a sinking fund amortizing cos ts, etc. sufficient for such amortization shall have been so provided, such bridge shall thereafter be maintained and operated free of tolls, or the rates of toll shall thereafter be so adjusted as to provide a fund of not to exceed the am ount necessar y for the pro per maintenanc e, Record of eapendi- repair, and operation of the bridge an d its approach es under eco- tures and rece ipts. nomical management. An accurate record of the amount paid for acquiring the bridge and its approaches, the actual expenditures for maintaining, repairing, and operating the same and of the daily tolls collected, shall be kept and shall be available for the information of Sworn statement of all p ersons intere sted. construction costs, etc ., SEC. 6 . The Brownville Bridge Company, its successors and assigns, to be filed after comple- tion. shall wit hin ninety day s after the c ompletion of such bridge fi le with the Secretary of War and with the highway departments of the States of Nebraska and Missouri a sworn itemized statement showing the actual original cost of constructing the bridge and its approaches, the actual cost of acquiring any interest in real prop- Examination by sec- erty necessary therefor, and the actual financing and promotion retary of war. costs. The Secretary of War may, and upon request of the highway department of either of such States shall, at any time within three years after the completio n of such bri dge, investiga te such costs and determine the accuracy and the reasonableness of the costs alleged in the statement of costs so filed, and shall make a finding of the actual and reasonable costs of constructing, financing, and pro- moting such bridge. For the purpose of such investigation the said Brownvi lle Bridge Co mpany, its su ccessors and a ssigns, shall Finding of Se cretary make available all of its records in connection with the construction, conclusive. financing, and promotion thereof. The findings of the Secretary of War as to the reasonable costs of the construction, financing, and promotion of the bridge s hall be concl usive for the purposes men- tioned in section 4 of this Act, subject only to review in a court of Right ht to sell, etc ., equity for fraud or gross mistake. conferred. SEC. 7. The right to sell, assign, transfer, and mortgage all the rights, powers, and privileges conferred by this Act is hereby granted to the Brownville Bridge Company, its successors and assigns ; and any corporation to which or any person to whom such rights, powers, and privileges may be sold, assigned, or transferred, or who shall acquire the same by mortgage foreclosure or otherwise, is hereby authorized and empowered to exercise the same as fully as though conferred herein directly upon such corporation or person. tracts Co to be let nstructi on by co n- SEC. 8 . All contracts made in connection with the construction petitive biddin g. of the bridge authorized by this Act and which shall involve the expenditure of more than $5,000, shall be let by competitive bidding. Advertising, etc. Such contracts shall be advertised for a reasonable time in some newspaper of general circulation published in the States in which the bridge is located and in the vicinity thereof ; sealed bids shall be required and the contracts shall be awarded to the lowest responsible

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