Page:United States Statutes at Large Volume 45 Part 1.djvu/349

 298 SEVENTIETH CONGRESS. SEss. I. Cii. 194. 1928 . needed for the location, construction, operation, and maintenance of such bridge and its approaches and terminals as are possessed by railroad corporations for railroad purposes or by bridge corporations for bridge purposes in the State in which such real estate or other property is situated, upon making just compensation therefor, to be ascertained and paid acco rding to the laws of such S tate, and the Conde mnat ion pr o- cee din gs proceedings therefor shal l be the same as in the con demnation and . expropriation of property in such State. Tolls authorized. SEC. 3 . The said New Martinsville and Ohio River Bridge Com- pany (Incorporated) its successors and assigns, is hereby authorized to fix and charge toils for transit over such bridge, and the rates of toll so fixed shall be the legal rates until changed by the Secretary Aci.34, p.85. of War under the authority contained in the Act of March 23, 1906. cquisition author- ized, afte r co mplet ion, SEC. 4. After the completion of such bridge, as determined by the by west Virginia, Secretary of War, either the State of West Virginia, the State of Ohio, etc. Ohio, any political subdivision of either of such States, within or adjoining wh ich any part of such bridg e 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 either of such States governing the acquisition of private property for public purposes by condemnation. quire d by Compensation if condemnaac- If at any time after the expiration of twenty years after the - tfo n. completion of such bridge the same is acquired by condemnation the amount of damages or compensation to be allowed shall not include good will, going value, or prospective revenues or profits, but shall Limitations. be limited to the sum of (1 ) the actual cost of constr ucting such bridge and its approaches, less a reason able 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 constructing the bridge and its approaches and acquiring such interest in real prop- erty ; and (4) actual expenditures for necessary improvements. T olls unde r st ate, etc ., operation. SEC. 5 . If such bridge shall be taken over or acquired by the Rates applied to op- States or political subdivisions thereof as provided in section 4 of eration, sinking fund, this Act, and if tolls are charged for the use thereof, the rates of etc. toll shall be so adjusted as to provide a fund sufficient to pay for the cost of maintaining, repairing, and operating the bridge and its approaches, to pay an adequate return on the cost thereof, and to provide a sinking fund sufficient to amortize the amount paid therefor as so on as possibl e under reaso nable charges, but within a period of not to exceed twenty years from the date of acquir- Mge, etc ., Maintenance as free ing t he s ame. After a sinking fund sufficient to pay the cost of bridgetc ., after amor- tizing costs. acquiring the bridge and its approaches shall have been provided such bridge shall thereafter be maintained and operated free of tolls, or the rates of toll shall thereafter be so adjusted as to pro- vide a fund of not to exceed the amount necessary for the proper care, repair, maintenance, and operation of the bridge and its tures Record and receip ct sape ndi- approaches. An accurate record of the amount paid for acquir- ing the bridge and its approaches, the expenditures for operating, repairing, and maintaining the same, and the daily tolls collected shall be kept and shall be available for the information of all per- sworn statement of sons in tereste d. construction costs, etc ., SEC. 6. The said New Martinsville and Ohio River Bridge Com- to be tried after com- pletion. pang (Incorporated), its successors and assigns, shall within ninety days after the completion o f such bridge file with the Secretary of War a swo rn ite mized state ment s howing the actual origi nal cost of constructing such bridge and its approaches, the actual cost

�