Page:United States Statutes at Large Volume 45 Part 1.djvu/1454

 SEVENTIETH C ONGRESS. SEss. II. CH. 368. 1929 . 1403 CHAP. 368 .-An Act Authorizing Llewellyn Evans, J. F. Hickey, and B. A. February 28,1929. Lewis, their heirs, legal representatives, and assigns, to construct, maintain, and [S . 58-,9.] operate a bridge and approaches thereto across Puget Sound, within the county [Public, No. 845 .] of Pierce, State of Washington, at or near a point commonly known as the Narrows. Be it enacted by the Senate and House of Representatives o f the United States o America in Congress assembled That in order to Pug et Sound. f Llewellyn Evans and promote interstate commerce, improve the postal service, and pro- others oasb` d ge ,,at vide for military and otherpurpos purposes, Llewel Llewelns,J J. F. Hic and B. A. Lewis, hereinafter called the grantees, and their heirs, legal representatives, and assigns, be, and they are hereby, author- ized to construct, maintain and operate a bridge and approaches the reto across P uget Sound, w ithin the coun ty of Pierce, State of Washington, at a point suitable to the interests of navigation, at or near a point commonly known as the Narrows, in accordance with construction. the provisions of the Act entitled "An Act to regulate the construc- Vol.34,p.84. tion of bridges over navigable waters," approved March 23 2 19 06, and subject to the conditions and limitations contained in this Act. SEC. 2 . A fter c omplet ion of such bride as de termin ed by the Acquisition author- ized, after mpletion, Secretary of War, either the State of Washington, or any manic- by Washington, etc. ipality or political subdivision thereof within or adjoining which any part of such bridge is located, or any two or more of them jointly, may at any time acquire and take over all right, title, and interest in such bridge and its approaches, and any interest in real property necessary therefor, by purchase or by condemnation in Condemnatio n pro- acco rdan ce w ith the laws of such Sta te g over ning the acq uisi tion of private property for public purposes by condemnation or expropria- compensation if ac- tion. If at any time after the expiration of five years after the quired by c ondemna- completion of such bridge the same is acquired by condemnation or tio n , expropriation, the amount of damages or compensation to be allowed shall not include good will, going value, or prospective revenues or profits, but shall be limited to the sum of (1) the actual cost of Limit atio ns. constructing such bridge and its approaches, less a reasonable deduc- tion for actual depreciation in value ; (2) the actual cost of acquiring such interest in real property ; (3) actual financing and promotion cost, not to exceed 10 per centum of the sum of the cost of construct- ing the bridge and its approaches and acquiring such interest in real property ; and (4) actual expenditures for necessary improve- ments, less a reasonable deduction for actual depreciation in value. SEC. 3. If such bridge shall at any time be taken over or acquired ete, operations state, by the State of Washington, or by any municipality or other polit- ical subdivision 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 tolls shall be so adjusted as to provide a fund eraions sinking tfund, sufficient to pay for the reasonable cost of maintaining, repairing, etc ƒ and operating the bridge and its approaches under eco nom ica l management, and to provide a sinking fund sufficient to amortize the amount paid therefor including reasonable interest and financ- ing 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 sinking fund sufficient for such amortization Maintenance as fr ee shall have been so provided, such bridge shall thereafter be main- tzing costs, after amor- tained and operated free of tolls, or the rates of tolls shall thereafter be so adjusted as to provide a fund of not to exceed the amount necessary for the proper maintenance, repair, and operation of the bride and its approaches under economical management. An Record of f- tares and receipts . accurate record of hamount paid for acquiring the bridge and its app roac hes, the act ual expe ndit ures for mai ntai ning, re pair ing, and operating the same, and of the daily tolls collected, shall be kept and shall be available for the information of all persons interested. 5483 .5'-29--PT 1-92

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