Page:United States Statutes at Large Volume 45 Part 1.djvu/246

 SEVENTIETH CONGRESS. SEss. I. CH. 132 . 1928 . 195 in real property, (3) actual financing and promotion costs, not to exceed 10 per centum of the cost of constructing the bridge and its approaches and acquiring such interest in real property, and (4) actual expenditures for necessary improvements. Tol ls un der State, SEC. 5 . If such bridge shall be taken over or acquired by the ete., operation. States or public agencies or political subdivisions thereof, or by either of them, as provided in section 4 of this Act, and if tolls are thereafter charged for the use thereof, the rates of tolls shall be so adjusted as to provide a fund sufficient to pay for the reasonable cost of maint ainin g, r epair ing, and o pera ting the b ridg e and its appr oach es un der e cono mical mana gemen t, a nd to prov ide a sin king fund sufficient to amortize the amount paid therefor as soon as possib le under reasonabl e charges, but wit hin a per iod of no t to exce ed twenty years from the date of acquiring the same. After a sinking fund sufficient to pay the cost of acquiring the bridge and its approaches shall have been so provided, 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 maintenance, repair, and operation Rec ord of e xpend i- of the bridge and its approaches under economical management. An tares and receipts. 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 persons interested. SEC. 6 . The Nebraska-Iowa Bridge Corporation, a Delaware corporation, its successors and assigns, shall within ninety days after the completion of such bridge file with the Secretary of War, and with the highway departments of the States of Nebraska and Iowa, a sworn itemized statement showing the actual original cost of constructing the bridge and its approaches, the actual cost of acquir- ing any interest in real property necessary therefor, and the actual inv esti gatio n by Sec- financing and promotion costs. The Secretary of War may, and retary of war. upon request of the highway department of either of such States shall, at any time within three years after the completion of such bridge, investigate such costs and determine the accuracy and the rea sonablene ss of the costs al leged in the state ment of c osts so f iled, and shall make a find ing of the a ctual and rea sonabl e cost s of c on- st ructi ng, finan cing, and prom oting such bri dge ; for the purpo se of such inv estig ation the said Nebr aska- Iowa Brid ge Co rpora tion , a Delaware corporation, its successors and assigns, shall make avail- abl e all record s in c onnect ion wi th the constr uction, fina ncing, and Fi nding s of Secr etar y promotion thereof. The findings of the Secretary of War as to conclusive. the reasonable costs of the construction, financing, and promotion of the bridg e shal l be c onclus ive fo r the purpose s ment ioned in Sec tion 4 of this Act, subject only to review in a court of equity for fraud or gross mistak e. Rig ht to sell, etc., SEC. 7 . The right to sell, assign, transfer, and mortgage all the conferred. rights, powers, and privileges conferred by this Act is hereby granted to the Nebr aska- Iowa Bridg e Co rpora tion, a D elawa re co rpora tion , its successors 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 fore- closure or otherwise, is hereby authorized and empowered to exercise the same as fully as though conferred herein directly upon such corporation or person. SEC. 8 . The right to alter, amend, or repeal this Act is hereby Amen dment. expressly reserved. Approved, March 6, 1 928. Rates applied to op- eration, sinking fund, etc. Maintenance as fr ee br idg e, etc ., after amor- tizing costs, etc . Swo rn s tate ment of construction costs, etc ., to be fi led after comp le- tion.

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