Page:United States Statutes at Large Volume 45 Part 1.djvu/250

 SEVENTIETH CONGRESS. SEss. I. C$. 136. 1928 . 199 tions for bridge purposes in the State in which such real estate or Con demn atio n pro - other property is situated, upon making just compensation therefor, ceedings. to be ascertained and paid according to the laws of such State, and the proce edings therefo r shall be th e same as in the condemnati on or expropriation of property for public purposes in such State. SEC. 3. The said J. H. Peacock, F. G. Bell, S. V. Taylor, E. C. Tolls authorized. Amann, and C. E. Ferris, their heirs, legal representatives, and assigns are hereby authorized to fix and charge tolls for transit over such bridge, and the rates of toll so fixed shall be the legal rates until changed by the Secretary of War under the authority contained in Vol- 11, p. ss. the Act of March 23, 1906. SEC. 4 . After the completion of such bridge as determined by the Acquisition author- ize d, a fter comp letio n, Secretary of War, either the State of Wisconsin, the State of Iowa, by Wisconsin, Iowa, any public agency or political subdivision of either of such States, etc ' within or adjoining which any part of the bridge 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 or expropriation, in accordance with the laws of either of such S tates governin g the acquisi tion of priva te p rope rty for qu fir ed red b sa tfon, if ac- y candemna- public pu rposes by cond emnation or e xpropriation. I f a t a ny t i me tion. after the expiration of twenty years after the completion of such bridge the 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 to the sum of (1) the actual cost of constructing Limitations. such bridge and its approaches, less a reasonable deduction for actual depreciation in value, (2) the actual cost of acquiring such interest in real property, (3) actual financing and promotion costs, not to exceed 10 per centum of the sum of the cost of constructing the bridge and its approaches and acquiring such interest in real prop- erty, and (4) actual expenditures for necessary improvements. SEC. 5 . If such bridge shall be taken over or acquired by the cp lltionunde r state 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 toll shall be so Rates applied to oper- adjusted as to provide a fund sufficient to pay for the reasonable ation,s inkingfund,e tc. cost of maintaining, repairing, and operating the bridge and its approaches under economical management, and to, provide a sinking fund sufficient to amortize the amount paid therefor including reason- able 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 Maintenance as free bridge, etc., on amor- such amortization shall have been so provided, such bridge shall tizing costs. 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 necessary for the proper maintenance, repair, and operation of the bridge and its approaches under economical man- agement. An accurate record of the amount paid for acquiring the Record of espendi- bridge and its approaches, the actual expenditures for maintaining, hires and receipts. repairing, and operating the same and of the daily tolls collected shall be kept and shall be available for the information of all persons inte rested. SEC. 6. J. H. Peacock, F. G. Bell, S. V. Taylor, E. C. Amann and sworn statement of > > 9 construction costs, etc ., C. E. Ferris, their heirs, legal representatives, and assigns, shall to be filed after com- within ninety days after the completion of such bridge file with the pletion . Secretary of War and with the highway departments of the States of Wiscon sin an d Iowa, a s worn i temize d sta tement showi ng the actual original cost of constructing the bridge and its approaches, the actual cost of acquiring any interest in real property necessary

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