Page:United States Statutes at Large Volume 45 Part 1.djvu/1582

 SEVENTIETH CONGRESS. SEss. II. Cii. 569. 1929 . 1531 SEC. 2 . After the completion of such bridge, as determined by the Acquisition aut hor- ed, of War, either the State of Alabama, any political subdi- blabama co mple tion. vision thereof within or adjoining which any part of such bridge is located, or any two or m ore of t hem join tly, may at any t ime acqu ire and take over all right, title, and interest in such bridge and its approach es, and any inte rest in real pro perty ne cessary t herefor, by purchase or by condemnation in accordance with the laws of su ch Cond emna tion p ro- State governing the acquisition of private property for public pur- ceedings. pos es by condemnation or expropriation. If at any time after the Compensation if ac- quired by condemns- expiration of five years after the completion of such bridge the same tio n. is acquired by condemnation or expropriation, the amount of dam- ages or compensation to be allowed shall not include good will, going value, or prospective revenues or profits but shall be limited to the Limi tatio ns. sum of (1) the actual cost of constructing such bridge and its approaches, less a reasonable deduction for actual depreciation in value ; (2) the actual cost of acquiring such interests in real prop- erty ; (3) actual financing and promotion cost, not to exceed 10 per centum of the sum of the cos t of constructing the bridge and its approaches and acquiring such interest in real property ; and (4) actual expenditures for necessary improvements. SEC. 3 . If such bridge shall at any time be taken over or acquired ete,operations State, by the State of Alabama or by any municipality or other political subdivision or public agency thereof, under the provisions of section Rates applied to op- 2 of this Act, and if tolls are thereafter charged for the use thereof, eration, sinking fund, the rates of tolls shall be so adjusted as to provide a fund sufficient etc ' to pay for the reasonable cost of maintaining, repairing, and operat- ing the bridge and its approaches under economical management, and to provide a sinking fund sufficient to amortize the amount paid there- for, including reasonable interest and financing cost, as soon as pos- sible under re asonable charges, but wi thin a p eriod of not to exceed Maintenance as free twenty years from the date of acquiring the same. After a sinking bridge, etc.,after amor- fund sufficient for such amortization shall have been so provided t'z'n g costs. such bridge shall thereafter be maintained 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 main- tenance, repair, and operation of the bridge and its approaches under Rec ord of e xpend i- economical management. An accurate record of the amount pa id tures and receipts. for ac quiring the brid ge and i ts appro aches, t he actua l expend itures for maintaining, repairing, and operating the same and of the daily tolls collected shall be kept and shall be available for the informa- tion of all persons interes ted. Swo rn s tate ment of SEC. 4. J. E. Robinson, his heirs, legal representatives, and assigns, construction costs, etc ., shall within ninety days after the completion of such bridge file with pl e ionfiied after com- the Secretary of War, and with the highway department of the State of Alabama, 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 property necessary therefor, and the Examination by See- actual financing and promotion costs. The Secretary of War may, retary of War. and at the request of the highway department of the State of Ala- bama shall, at any time within three years after the completion of such bridge, investigate such costs and determine the accuracy and the reasonab leness o f the co sts alle ged in t he statem ent of c osts so filed, and shall make a finding of the actual and reasonable costs of constructing, financing, and promoting such bridge of such investigation the said J. E. Robinson, his heirs, legal repre- sentatives, and assigns, shall make available all records in connection Findings of Secretary with the construction, financing, and promotion thereof. The fin d- conclusive. ings of the Secretary of War as to the reasonable costs of the con- struction, financing, and promotion of the bridge shall be conclusive 54335•-29-pT 1-100
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