Page:United States Statutes at Large Volume 45 Part 1.djvu/526

 SEVENTIETH CONGRESS. SEss. I. Cas. 470, 471 . 1928. 475 SEC. 5. The right to sell, assign, transfer, and mortgage all the co Right sell, etc., rights, powers, and privileges conferred by this Act is hereby granted to the Saint Albans Nitro Bridge Company, its successors and assigns, and any corporation 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 and empowered to exercise the same as fully as though conferred herein directly upon such corporation or person. SEC. 6. The right to alter, amend, or repeal this Act is hereby Amend ment. exp ressly reser ved. Approved, May 1, 1928. May 1, 1928 . CHAP. 471 .-An Act Authorizing the Cabin Creek Kanawha Bridge Com-	[H. R. 11265.] pany, its successors and assigns, to construct, maintain, and operate a bridge [Public, No. 336 .] across the Kanawha River at or near Cabin Creek, West Virginia. Be it enacted by the Senate and House of Representatives of the United States o America in Congress assembl ed That in order to Kanawha River. f Cabi n Creek gan g- pro mote i nterst ate co mmerce, impr ove th e posta l serv ice, a nd pro vide wba Bridge Company may bridge, at C abin for military and other purposes, the Cabin Creek Kanawha Bridge Creek, W. Va. Company, its successors and assigns, be, and is hereby, authorized to c onstr uct, main tain, and opera te a brid ge an d ap proac hes t here to across the Kanawha River, at a point suitable to the interests of navigation, at or near Cabin Creek, in accordance with the provisions Const ruction. of the Act entitled "An Act to regulate the construction of bridges Vol.34,p.s4C over navigable waters," approved March 23, 1906, and subject to the conditions and limitations contained in this Act. SEC. 2. After the completion of such bridge, as determined by the Acquisition author- iz ed, a fter comp leti on, Secretary of War, either the State of West Virginia, any political by west Virginia, etc. subdivision thereof within or adjoining which any part of such bridge is located, or any two or more of them jointly, may at any tim e acquire and take over all right, t itle, and interest in such bridge and its approaches, and any interest in real property necessary th eref or, by purc hase or by cond emna tion or exp ropr iati on, in aond demnation pro- a ccord ance with the laws of su ch S tate gover ning the acqui siti on of private property for public purposes by condemnation or expropriation. If at any time after the expiration of twenty years Compensation if ac- afte r the completion of such bridge the same is acquired by qu onea by condemna- condemnation or expropriation, the amount of damages or compensa- tion to be allowed shall not include good will, going value, or prospective revenues or profits, but shall be limited to the sum of Li mita tions. (1) the actua l cost of co nstruc ting s uch bri dge an d its approa ches, 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. SEC. 3. If such bridge shall at any time be taken over or acquired et eoi ls ride r st ate, by the State of West Virginia or by any municipality or other po litica l subd ivisio n or p ublic agency thereo f, und er the provi sions of section 2 of this Act, and if tolls are thereafter charged for the use thereof, the rates of toll shall be so adjusted as to provide a fund era ion applied g fund, su fficie nt to pay fo r the reason able c ost of mainta ining, repai ring, etc. 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 co st, as so on as pos sible und er reason able cha rges, but within a period of not to exceed twenty years from the date of acquiring the same. 54835°-29-PT 1	34

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