Page:United States Statutes at Large Volume 45 Part 1.djvu/369

 318 S EVEN TIET H CONGRESS. SEss. I. Cia. 225. 1928 . vide for military and other purposes, E. M. Elliott, Chicago, his heirs, legal representatives, and assigns, be, and is hereby, authorized to construct, maintain, and operate a bridge and approaches th er eto across the Ohio River, at a point suitable to the interests of naviga- Constrnction. tion at or near Ravenswood West Virginia, in accordance with the Vol.34,p. 84. ~, 7 provisions of the 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. M. Elliott, Chicago, his approaches, etc. heirs, 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, operation, and maintenance of such bridge and its approaches 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 according to the laws of such Condemnatio n pro- ceeings. State and the proceedings therefor shall be the same as in the condemnation or expropriation of property for public purposes in such State. Tolls authorized. SEC. 3 . The said E. M. Elliott, Chicago, his heirs, legal representa- tives, 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 rates until changed by the Secretary of War under the authority Vol.34, p.85. contained in the Act of March 23, 1906. ized,Qafter ~completion, SEC. 4. After the completion of such bridge, as determined by the by West Vir ginia, Oh io, Secretary of War, either the State of West Virginia, the State of e tc" Ohio, 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 interest in real property necessary therefor, by purchase or by condemnation or expropriation, in accordance with the laws of either of such States governing the acquisition of private property Compensation if ac- for public purposes b condemnation or expropriation . Ifatan gutted by condemna- tion, etc. 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 good will, going value, or prospective revenues or profits, Lim itat ions. 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 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 bri dge an d its a pproach es and acquir ing suc h inte rest in real p ropert y ; Tol ls u nder stat e, and ( 4) actual exp enditures for necessary imp rovements. etc ., ope rat ion . SEC. 5 . If such bridge shall be taken over or acquired by the States or public agencies or political subdivisions thereof, or by either of Rates applied to them, as provided in section 4 of this Act, and if tolls are thereafter operation, sinking charged for the use thereof, the rates of tolls shall be so adjusted fun d, et c. a s to provide a fund sufficient to pay for the reasonable cost of maintaining, repairing, and operating the bridge and its approaches un der econ omi cal man agem ent, an d to provide a sinking fund sufficient to amortize the amount paid therefor including reasonable interest and financing cost, as soon as possible under reasonable charges, but within a period of not to exceed twenty years from the br idg Maintenance a free date of acquiring sinkinguiringthesame . After a sinking fund sufficient for such e,etc.,after s mor- tizing costs, amortization shall have been so provided, such bridge shall thereafter be maintained and operated free of tolls, or the rates of tolls shall

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