Page:United States Statutes at Large Volume 45 Part 1.djvu/433

 382 SEVENTIETH CONGRESS. SEss. I. CH. 281 . 1928 . 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 Compensa tion if ac. for public purposes by condemnation or expropriation. If at any quired by condemns ° tion. time after the expiration of twenty years after the completion of such bridge the same is a cquired by con demnation or expropriation, the amount of damages or compensation to be allowed shall not inc lude good will, going value, or prospective revenues or profits, but shall Lim itati ons. be limi ted to the su m of (1) the a ctual cost of constructing such bridge and its appro aches, less a reasonable de duction for ac tual 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. Tolls under state, etc., operation 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 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 elation, sinking fund, 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 sufficient to amortize the amount paid therefor including reasonable interest and financing cost, as soon as possible under reasonable charges, but with- Maintenance as free in a period of not to exceed twenty years from the date of acquiring bridge, etc., after amor- the same. After a sinking fund sufficient for such amortization shall tilin g costs, have been so provided, such bridge shall 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 Record of expendi- its approaches under economical management. An accurate record tare s and rec eipts. of the amount paid for acquiring the bridge and its approaches, the actual ex penditures for maintaining, repairing, a nd operating t he same and of the da ily tol ls coll ected, shall be kept and s hall be avail- able for the information of all persons interested. Sworn Statement of SEc. 6. The said Henry Thane, his heirs, legal representatives, and construction costs, etc., to be filed after comple- assigns, shall within ninety days after the completion of such bridge tion. file with the Secretary of War, and with the highway departments of the States of Arkansas and Mississippi, a sworn itemized state- ment sho wing the act ual orig inal cos t of con stru ctin g th e br idge and its appro aches, the act ual cost of a cquiring any interest in re al property necessary therefor, and the actual financing and promotion retar Examination of of War. nation by Sec- costs. The Secretary of War may, and upon request of the highway 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 statement of costs so filed, and shall make a finding of the actual andd reasonable costs of constructing, financing, and promoting such bridge ; for the purpose of such investigation the said Henry Thane, his heirs, legal representatives, and assigns, shall make avail- able all his records in connection with the construction, financing, con cludsiv e sofse•retary and promotion thereof. The findings of the Secretary of War as to the reasonable costs of the construction, financing, and promotion of the bridge shall be conclusive for the purposes mentioned in section 4 of this Act, subject only to. review in a court of equity for fraud or gross mistake.

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