Page:United States Statutes at Large Volume 45 Part 1.djvu/335

 284 SEVENTIETH CONGRESS. SEss. I. CH. 172 . 1928 . maintain, and operate a bridge and approaches thereto across the Mississippi River, at a point suitable to the interests of navigation, voia4 p' °s4: at or near Chester, Illinois, in accordance with the provisions of the Post, p. 1529. Act entitled "An Act to regulate the construction of bridges over navigable waters," approved March 23, 1906, and subject to the conditions and limitations contained in this Act. Right to acquire real estate, etc ., for location, SEC. 2. There is hereby conferred upon E. H. Wegener, his heirs, approaches, etc. legal representatives, and assigns, all such rights and powers to enter upon lands and to acquire, condemn, occupy, possess, and use real estate and other property needed for the location, construction, opera tion, and ma intena nce of such bridge and it s appr oaches, as a re possessed by railroad corporations for railroad purposes or by bridge cor porat ions for bridg e pu rpose s in the State in w hich such real estate or other property is situated, upon making just compensation therefor, to be ascertained and paid according to the laws of such ce Condemnation pro- State, and the pr oceedi ngs th erefor shall be the same as in the co n- demnation or expropriation of property for public purposes in such State. Tolls authorized. SEC. 3. The said E. H. Wegener, his heirs, legal representatives, and assigns, is hereby authorized to fix and charge tolls for transit over such bridge, and the rates of tolls so fixed shall be the legal Vol.34, p.85. rates until changed by the Secretary of War under the authority contained in the Act of March 23, 1906. iz d, after completion, Src. 4 . After the completion of such bridge, as determined by by Illinois, Missouri, the Secretary of War, either the State of Illinois, the State of Mis- etc. souri, any public agency or political subdivision of either of such States, 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 inter est in real proper ty nec essary theref or, by purch ase or by co ndemn ation or expro priat ion, in a ccord ance with the laws of either of such States governing the acquisition of private property Compensation if ac- for public purposes by condemnation or expropriation. If at any quir ed by conde mna- t ion . time 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 Limitations. good will, going value, or prospective revenues or profits, but shall be limited 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 costs, not to exceed 10 per centum of the sum of the cost of construction of the bridge and its approaches and acquiring such interest in real property, and (4) actual expenditures for necessary improvements. Tons u nder state , SEC. 5. If such bride shall be taken over or acquired b the States etc ., operation. b y or public agencies or political subdivisions thereof, or by either of Rates a pplied to op - them, as provided in section 4 of this Act, and if tolls are thereafter eration, sinking fund, charged for the use thereof, the rates of tolls shall be so adjusted etc . as to provide a fund sufficient to pay for the reasonable cost of main- taining, repairing, and operating the bridge and its approaches under economical management, and to provide a sinking fund suffi- cient to amortize the amount paid therefor including reasonable interest and financing cost, as soon as possible under reasonable Maintenance as free charges, but within a period of not to exceed twenty years from the br idg e, etc ., after amo r- date of acquiring the same. After a sinking fund sufficient for such tizmg cos ts. amortization shall have been so provided, such bridge shall there- after 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 opera-

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