Page:United States Statutes at Large Volume 45 Part 1.djvu/530

 SEVENTIETH CONGRESS. SEss , I. CH. 474. 1928 . 479 SEC. 3 . The said J. L. Rowan, his heirs, legal representatives, and Tolls authorized . assigns, is hereby authorized to fix and charge tolls for transit over such bridge, and the rates of toll so fixed shall be the legal rates until changed by the Secretary of War under the authority contained Vol.34, p. 85. in the Act of March 23, 1906 . SEC. 4. After the completion of such bridge, as determined b the Acquisition co a nth or- y ized, after mpletion, Secretary of War, either the State of Illinois, the State of Kentucky, by Illinois, Kentucky, any public agency or political subdivision of either of such States within or adjoining which any part of such 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, an d any in terest i n real p roperty necessar y theref or, by p urchase or b y cond emnat ion o r expr opria tion, in accordance with the laws of su ch State s govern ing the acquisit ion of p rivate p roperty for publ ic Compensation if so- purposes by condemnation or expropriation. If at any time after cluired b y condemna- 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, but shall be Limitations . limited to the sum of (1) the actual cost of constructing such bridge an d its ap proaches, less a reasona ble dedu ction fo r actual depreci a- tion 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 property, and (4) actual expenditures for necessary improvements. To lls under sta te, SEC. 5. If such bridge shall be taken over or acquired by the States etc ., operation. 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 toll shall be so adjusted as er aon, sin king tfuna to provide a fund s ufficien t to pay for the reasona ble cost of main - P te- 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 financ ing cost, as soo n as possible un der reasonable c harges, but with in a period of not to exceed twenty years from the date of acquiring Maintenance as free the same. After a sinking fund sufficient for such amortization shall brid g e, etc., after amor- have been so provided, such bridge shall thereafter be maintained tizin g costs. 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 Re cord of e zpen di- its approaches under economical management. An accurate record tares and receipts. of the amount paid for acquiring the bridge and its approaches, the actual expenditures for maintaining, repairing, and operating the same and of the daily tolls collected, shall be kept and shall be available for the information of all persons interested. SEC. 6 . J. L. Rowan, his heirs, legal representatives, and assigns sw orn state ment of > > e construction costs, etc ., shall within ninety days after the completion of such bridge file with to be sled after com. the S ecre tary of War, and wit h the hi ghwa y de part ment s of the pletion. States of Illinois and Kentucky, a sworn itemized statement showing the actual original cost of constructing the bridge and its approaches, the actual. cost of acquiring any interest in real property necessary Examination by See. therefor, and the actual financing and promotion costs. The Sec re- rotary of war. tary of War may, and upon request of the highway department of either of such States shall, at any time within three years after the com pletion of such bridge, investig ate such costs' and dete rmine th e accuracy and the reasonableness of the costs alleged in the statement of costs so filed, and shall make a finding of the actual and reasonable co sts of c onstruct ing, fin ancing, and prom oting su ch bridg e ; fo r the

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