Page:United States Statutes at Large Volume 45 Part 1.djvu/442

 SEVENTIETH CONGRESS. SEss. I. Cii. 292. 1928 . 391 profits, but shall be limited to the sum of (1) the actual cost of Limitations . constructing such bridge and its approaches, less a reasonable deduc- t ion for actu al d epre ciat ion in v alue ; (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 con- structing the bridge and its approaches and acquiring such interests i n re al p ro pe rt y ; and (4) actual expenditures for necessary improve- ments. SEC. 5. That if such bridge shall at any time be taken over or etc ., operat under ion s . State, 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 charged for the use thereof, the rates of opton, sinkingfund tollshallbesoadjustedastoprovideafundsufficienttopayforetce the reasonable cost of maintaining, repairing, and operating the bridge and its approaches under economical management, and to provide a sinking fund sufficient to amortize the amount paid there- for, including reasonable interest and financing cost, as soon as pos- sible under reasonable charges, but within a period of not to exceed twenty years from the date of acquiring the same. After a sinking Maintenance as fr ee yy g bridge, etc. after amor- fund sufficient for such amortization shall have been so provided, titlin g costs, etc ° 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 main- tenance, repair, and operation of the bridge and its approaches under economical management. An accurate record of the amount paid for acquiring the bridge and its approaches, the actual expen- ditures for maintaining and operating the same and of the daily tolls collected shall be kept and shall be available for the informa- tion of all persons interested. Sworn statement of SEC. 6 . That the said John C. Mullen, T. L. Davies, John H. Hutch- construction costs, etc ., ings, and Virgil Falloon, their heirs, legal representatives, and toobe filed after comple- assigns, shall within ninety days after the completion of such bridge file with the Secretary of War and with the highway departments of the States of Nebraska and Missouri a sworn itemized statement show ing the actu al o rigi nal cost of cons truc ting the bri dge and its approaches, the actual cost of acquiring any interest in real property Eaamination by Sec . necessary therefor, and the actual financing and promotion costs. The retary of War. 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 state- ment of costs as 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 John C. Mullen, T. L. Davies, John H. Hutchings, and Virgil Falloon, their heirs, legal representatives, and assigns, shall make available all of the records in connection with the construction, financing, and promo- tion thereof. The findings of the Secretary of War as to the reason- colusive. otS ecre tary able 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. SEC. 7. The right to sell, assign, transfer, and mortgage all the conferred to sell, etc ., rights, powers, and privileges conferred by this Act is hereby granted to John C. Mullen, T. L. Davies, John F. Hutchings, and Virgil Falloon, their heirs, legal representatives, and assigns, and any cor- poration 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

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