Page:United States Statutes at Large Volume 45 Part 1.djvu/332

 SEVENTIETH CONGRESS. SESS. I. CIi. 170. 1928 . 281 costs not to exceed 10 per centum of the sum of the cost of construct- ing the bridge and its approaches and acquiring such interest in real property, and (4) actual expenditures for necessary improvements. Tolls under State, SEC. 5 . If such bridge shall be taken over or acquired by the States etc ., operation. 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 Rates applied to op- charged for the use thereof, the rates of toll shall be so adjusted as eration, sinking fund, to provide a fund sufficient to pay for the reasonable cost of main- etc r taming, repairing, and operating the bridge and its approaches under economical management, and to provide a sinking fund suf- ficient to amortize the amount paid therefor including reasonable interest and financial 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 b bridge, etc ., after amor- such amortization shall have been so provided, such bridge shall tiz ing 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 tie amount necessary for the proper maintenance, repair, and operation of the bridge and its approaches under economical manage- m e n t. An accurate record of the amount paid for acquiring the t aresR ecand ord receipts . c i- bridge and its approaches, the actual expenditures for maintaining, repairing, and operating the same and of the daily tolls collected, sh all be ke pt and sh all be av ailable f or the i nformatio n of all persons in terested. SEC. 6 . The Interstate Bridge Company, its successors and assigns, construction statement of b f construction costs, etc ., shall within ninety days after the completion of such bridge file with to be filed after comple- the Secretary of War, and with the highway departments of the t'on. State s of Iowa and Wisco nsin, a s worn itemi zed s tate ment showi ng the actual original cost of constructing the bridge and its approaches, the act ual co st of acquir ing an y inte rest in real proper ty nec essary Investigation by the therefor, and the actual financing and promotion costs. The Secre- Secretary of war. tary of War may, and upon request of the hi ghway 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 reasonableness of the costs alleged in the state- ment 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 Interstate Bridge Compan y, its succe ssors and as signs, shall make a vailab le all of its records in connection with the construction, financing, and Findi ngs o f Se creta ry promotion thereof. The findings of the Secretary of '«Tar as to the conclusive. reasonable costs of the construction, financing, and promotion of the bri dge sh all be concl usive for th e purpo ses me ntione d in s ection 4 of this Act, subject only to review in a court of equity for fraud or gross mistake. Right to sell, etc ., SEC. 7 . The right to sell, assign, transfer, and mortgage all the conve yed. rights, powers, and privileges conferred by this Act, is hereby granted to Interstate Bridge Company, 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 foreclosure or otherwise, is hereby authorized and empowered to exercise the same as fully as thou gh co nferr ed he rein dire ctly upon such corp orat ion o r per son. SEC. 8 . The right to alter, amend, or repeal this Act is hereby Amendment. expressly reserved. Approved, March 10, 1928.

�