Page:United States Statutes at Large Volume 45 Part 1.djvu/196

 SE VENT IETH CONGRESS. SEss. I. CH. 99. 1928 . 145 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 accordance with the laws of such ce Con demn atio n pro . State governing the acquisition of private property for public pur- Compensation if ac- poses by condemnation or expropriation. If at any time after the quired by co ndem na- expiration of twenty years after the completion of such bridge the "on- same is acquired by condemnation or 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 Limitations . 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 pr oper ty, (3) actu al f inan cing and pro moti on c ost, not to exce ed 10 per centum of the sum of the cost of constructing the bridge and its approaches and acquiring such interest in real property, and (4) actual expenditures for necessary improvements . To lls under state, SEC . 3 . If such bridge shall at any time be taken over or acquired et c ., ope rat ion . by the State of Kentucky or by any municipality or other political subdivision or public agency thereof, under the provisions of section Rates applied to oper- 2 of this Act, and if tolls are charged for the use thereof, the rates ation, sinking fun d, of tolls shall be so adjusted as to provide a fund sufficient to pay et c- for the reasonable cost of maintaining, repairing, and operating the br idge and its app roac hes unde r ec onom ical man agem ent, and to provide a sinking fund sufficient to amortize the amount paid there- for 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 to pay the cost of acquiring the bridge bridgeMaintenance as free , etc ., after amor- and its approaches shall have been so provided, such bridge shall tiling costs. 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 maintenance, repair, and operation of the bridge and its approaches under economical Record of expendi- ma nage ment. An accurate record of the amount paid for acquiring tures and receipts. th e br idge and its app roac hes, the act ual expe ndit ures for mai n- taining, repairing, and operating the same, and of the daily tolls collected shall be kept and shall be available for the information of all persons interested. Sworn statement of SEc. 4 . The Valley Bridge Company, Incorporated, of Paducah, construction costs, etc ., Kentucky, its successors and assigns, shall within ninety days after ple ioon"ed after com- the completion of such bridge file with the Secretary of War, and with the highway department of the State of Kentucky, 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 re iny f Waon by sec ° of the highway department of the State of Kentucky shall, at any time within three years after the completion of such bridge, investi- gate such costs and determine the accuracy and 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 investigation the said Valley Bridge Company, incorporated, of Paducah, Ken- tucky, its successors and assigns, shall make available all records in connection with the construction, financing, and promotion thereof. The findings of the Secretary of War as to the reasonable costs of concl usine, Findings of Secretary ive construction, financing, and promotion of the bridge shall be con- clusive for the purposes mentioned in section 2 of this Act, subject only to review in a court of equity for fraud or gross mistake.

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