Page:United States Statutes at Large Volume 45 Part 1.djvu/1611

 1560 SEVENTIETH CONGRESS. SEss. II. Ca. 702. 1929. Tol ls unde r State, ate ., op eration. Rates applied to op- eration, sinking fund, etc. Maintenance as free bridge, etc ., after amor tizing costs, etc. Recor d of exp endi- t ures and recei pts . Sworn statement of construction costs to be fil ed after comp letion. Ex amination by Sec. retary of War. Findings of Secre- tary conclusive. Right to sell, etc ., conferred. Const ruction con - tracts to be let to lowest bidder. 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 property (3) actual financing and promotion cost, 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 ex- penditure s for necessar y improvement s. SEC. 3. If such bridge shall at any time be taken over or acquired by the State of Ohio, or by any municipality or other political sub- division 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 toll 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 pro- vide 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 not to exceed twenty years from the date of acquiring the same. After a sinking fund 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, repair, and operation of the bridge an d its approach es 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 information of all pe rsons i nteres ted. SEC. 4 . Eugene Rheinfrank, his heirs, legal representatives, and assigns, shall within ninety days after the completion of such bridge file with the Secretary of War, and with the highway department of the State of Ohio, 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 f inancing and promotion cos ts. The Secretary of War may and, at the request of the highway department of the State of Ohio, shall at any time within three years after the completion of such bridge, investigate 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 promoting such bridge. For the purpose of such investi gation the sai d Eugene Rhei nfrank, his heirs, legal representatives, and assigns, shall make available all records in connection with the construction, financing, and pro- motion thereof. The findings of the Secretary of War as to the reasonable costs of the construction, financing, and promotion of the bridge shall be conclusive for the purposes mentioned in section 2 of this Act, subject only to review in a court of equity for fraud or gross mistake. SEC. 5 . The right to sell, assign, transfer, and mortgage all the rights, powers, and privileges, conferred by this Act is hereby granted to Eugene Rheinfrank, his heirs, legal representatives, 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. SEC. 6 . All contracts ma de in connecti on with the c onstruction of the bridge authorized by this Act and which shall involve the expenditure of more than $5,000 shall be let by competitive bid-

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