Page:United States Statutes at Large Volume 45 Part 1.djvu/1598

 SEVENTIETH C ONGRESS. SESS. II. CH. 686. 1929 . 1547 struct, maintain, and operate a bridge and approaches thereto across the Canadian River, at a point suitable to the interests of navigation, at or near Franc is, Pontotoc County, Oklaho ma, in accord ance with the provisions of the Act entitled "An Act to regulate the construc- tion of bridges over navigable waters," approved March 23, 1906, and subject to the conditions and limitations contained in this Act. SEC. 2 . After the completion of such bridge, as determined by the Secretary of War, either the State of Oklahoma, any political sub- division 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 ove r al l ri ght, tit le, and inte rest in such bri dge and its approaches, and any interest in real property necessary therefor, by purchase or by condemnation or expropriation, in accordance with the laws of such State governing the acquisition of private property for public purposes by condemnation or expropriation. If any time after the expiration of five years after the completion of such bridge the same is acqu ired by conde mnation or exp ropriation, t he 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 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 cost of constructing the bridge and its ap- proaches and acquiring such interests in real property ; and (4) actual expenditures for necessary improvements. Snc. 3 . If such bridge shall at any time be taken over or acquired by the State of Oklahoma, or by any municipality or other political subdivision or public agency thereof, under the provisions of section 2 of this Act, and if the tolls are thereafter charged for the use thereof, the rates of toll shall be so adjusted as to provide a fund su fficie nt to p ay for the re asonabl e cost of mai ntainin g, repa iring, and operating the bridge and its approaches under economical manage- ment 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 twenty years from the date of acquiring the same. After a sinking fund su fficien t for s uch am ortizat ion sha ll hav e been so prov ided, 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 amount n ecessary for t he proper mai ntenance, repair, and operation of the bridge and its approaches under eco- 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 informa- tion of all persons interested. SEc. 4. That H. L. Cloud, or his heirs, legal representatives, and assigns, shall , withi n nine ty days after the co mpletio n of su ch bri dge, file with the Secretary of War and with the highway department of the State of Oklahoma 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 actual financing and promotion costs. The Secretary of War may, and at the request of the highway department of the State of Oklahoma shall, at any time within three years after the comple- tion of such bridge investigate such costs alleged in the statement of costs so filed, and shall make a finding of the actual and reasonable costs of constructing, financing, and promoting the bridge ; for the 54835 °-29-pT 1-101 Construction. Vol.34, p.84. Acquisition author- i zed, afte r com pleti on, by Oklahoma, etc. Condemnation pro- ceedings. Compensation if ac- qui red by cond em- nat ion. Limit atio ns. Tolls under State, etc., operation . Rates applied to op- era tio n, sinking fund, etc. Maintenance as free bridge, etc ., after amor- tizing costs. Record of expendi- tures and rece ipts. Sworn statement of construction costs, etc ., to be filed, after com- pletion. Examination by Seo- retary of War .

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