Page:United States Statutes at Large Volume 45 Part 1.djvu/1557

 1506 SEVENTIETH CONGRESS. SEss. II. Cu. 525. 1929 . March 2, 1M. CHAP. 525 .-An Act Authorizing Jed P. Ladd, his heirs, legal representatives, [S. 5045 .]	and assigns, to construct, maintain, and operate a bridge across Lake Champlain [Public, loo.951.3 from East Alburg, Vermont, to west Swanton, V ermont. Be it enacted by the Senate and House o f Representatives o f the Lake Cham plain. Jed P. Ladd may United States of America in Congress assembled, That in order to bridge, at East Alburg facilitate interstate commerce, improve the postal service, and to West swauton,Vt. provide for military and other purposes, Jed P. Ladd, of Burlington, Vermont, his heirs, legal representatives, and assigns, be, and he is hereby, authorized to construct, maintain, and operate a bridge and approach es thereto ac ross Lake Cha mplain, at a p oint suitable to the interests of navigation, between a point at or near East Construction. Alburg, Vermont, and a point at or near West Swanton, Vermont, Vol.34, p. 84. in accordance with the provisions of the Act entitled "An Act to regulate the construction of bridges over navigable waters," approved March 23, 1906, and subject to the conditions and limitations con- tained in this Act. Right to acquire real estate, etc ., for location, SE C. 2. There is hereby conferred upon Jed P. Ladd, his heirs, approaches, etc. legal representatives, and assigns all such rights and powers to enter upon lands and to acquire, condemn, occupy, possess, and use real estate and other property needed for the location, construction, operation, and maintenance of such bridge and its approaches as are possessed by railroad corporations for railroad purposes or by bridge corporations for bridge purposes in the State in which such real estate or other property is situated, upon making just compensation therefor, to be ascertained and paid according to the laws of such co ndemnation pro- ceedings . State, and the proceedings therefor shall be the same as in the condemnation or expropriation of property for public purposes in such State. Tolls authorzied. SEC. 3. The said Jed P. Ladd, his heirs, legal representatives, and assigns are hereby authorized to fix and charge tolls for transit over such bridge, and the rates of toll so fixed shall be the legal rates Vol.34,p.85. until changed by the Secretary of War under the authority con- tained in the Act of March 23, 1906. Acquisition author- SEC. 4. After the completion of such bridge, as determined by the fzed, after completion, by Vermont, etc . Secretary of War, either the State of Vermont, any public agency or political subdivision of such State 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 or expropria- tion, in accordance with the laws of such State governing the acqui- sit ion of privat e property fo r public purpo ses by condem nation or Compensation if ac- expropriation. If at any time after the expiration of five years quired by condemna- tion. afte r th e co mple tion of such bri dge the same is acqu ired by cond em- nation or expropriation, the amount of damages or compensation to be allowed shall not include good will, going value, or prospective Limitations. revenues or profits but shall be limited to the sum of (1) the actual cost of constructing such bridge and its approaches, less a reason- able deduction for actual depreciation in value ; (2) the actual cost of acquiring such interests in real property ; (3) actual financing and promotion costs, 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 property ; and (4) actual expenditures for necessary improvements. To ns un der state, etc ., operation. SEC. 5. If such bridge shall at any time be taken over or acquired by the State or public agencies or political subdivision thereof, or by either of them, as provided in section 4 of this Act, and if tolls ation, Rat es sinking fund, are thereafter charged for the use thereof, the rates of toll shall be so adjudged as to provide a fund sufficient to pay for the reasonable

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