Page:United States Statutes at Large Volume 45 Part 1.djvu/459

 408 SEVENTIETH CONGRESS. SEss. I. CHs. 322, 323 . 1928 . Stoppages for lost, etc ., property . than three months for such number of units as he may deem neces- sary : And provided further, That stoppages may be made against the c ompens ation payabl e to a ny off icer or enlis ted ma n here under to cover the cost of public property lost or destroyed by, and chargeable to, such officer or enlisted man ." Approved, April 6, 1928 . April 6, 1928 . [8.3558 .1	CHAP . 323 .-An Act Authorizing Point Pleasant and Henderson Bridge [Public, No . 241.1 Comp any, its su cc es so rs a nd as si gn s, to construct, mai ntain, and operate a bridge across the Kanawha River at or near Point Pleasant, West Virginia . Be it enacted by the Senate and House of Representatives of the Po Kanawha int Pleasant River . Peasant and Unit ed S tates of A meri ca in Cong ress asse mbled, That in order to C . pan y son may Bridge ge promote interstate commerce, improve the postal service, and pro- at at Point Ple asa nt, vide for military and other purposes, the Point Pleasant and Hen- W. Va. derson Bridge Company, its successors and assigns, be, and is hereby, authorized to con struct, maintain, an d operate a bridge a nd appr oache s the reto acro ss th e Kan awha Rive r, at a p oint suita ble Construction . to the interests of navigation, at or near Point Pleasant, West Vir- Vol.34,p .54. Pos t, p .11525. ginia, in ac cordan ce wit h the provis ions of the A ct ent itled "An Ac t to regulate the construction of bridges over navigable waters," approved March 23, 1906, and subject to the conditions and limita- tions contained in this Act. Acquisition author- ized, after completion, SEC. 2 . After the completion of such bridge, as determined by the by West Virginia, etc. Secretary of War, either the State of West Virginia, any political subdivision thereof within or adjoining which any part of such bridge is located, or any two or more of them jointly, may at any time acq uire and take over all righ t, title, and int erest in such brid ge and its approaches, and any interest in real property necessary there- Condemnation pro- for, by purchase or by condemnation or expropriation, in accordance ceedings. with the laws of such State governing the acquisition of private prop- Compensation if ac- qui red by condemn .- erty for public purposes by condemnation or expropriation. If at Lion. any time after the expiration of twenty years after the completion of such bridge the same is acquired by condemnation or expropria- tion, the amount of damages or compensation to be allowed shall not include good will, going value, or prospective revenues or profits, Limitat 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 interests in real property ; (3) actual financing and promotion cost, not to exceed 10 per centum of the sum of the cost of constructing the bridge and its approaches and acquiring such interests in real property ; and (4) actual expenditures for necessary improvements. Tolls und er s tate, etc ., operation . SEC. 3. If such bridge shall at any time be taken over or acquired by the State of West Virginia, or by any municipality or other politi- cal subdivision or public agency thereof, under the provisions of Rates section 2 of this Act, and if tolls are thereafter charged for the use applied to eration, sinking fund, thereof, the rates of toll shall be so adjusted as to provide a fund etc ° sufficie nt to pay for the reasonabl e cost o f maintai ning, rep airing, a nd oper ating the bridg e an d its appr oach es un der e cono mical mana ge- ment a nd to provid e a si nking fund s ufficie nt to amorti ze the amoun t paid ther efor, inc luding re asonable interest and finan cing cost, as soon as possible under reasonable charges, but within a period of not to exceed twenty years from the date of acquiring the same. After a Maintenance as free sink ing fund suffi cien t for such amor tiza tion shall hav e bee n so bridge, etc . after amor- tizin g costs. 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

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