Page:United States Statutes at Large Volume 45 Part 1.djvu/532

 SEVENTIETH CONGRESS. SESS. I. CH. 475 . 1928 . 481 with in or ad joining which an y part o f such b ridge 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, and any interest in real property necessary therefor, by purchase or by co ndemn atio n or exp ropr iati on, in a ccor danc e w ith the laws of either of such States governing the acquisition of private property compensation if ac- for public purposes by condemnation or expropriation. If at any guired by condemna- on time after 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 in- clude good will, going value, or prospective revenues or profits, but shall be limited to the sum of (1) the actual cost of constructing Lim itat ions. 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 costs, not to exceed 10 per centum of the sum of the cost of constructing the brid ge and i ts appro aches an d acquir ing such interest s in rea l prop- erty, and (4) actual expenditures for necessary improvements. Tol ls und er stat e, SEc. 5. If such bridge shall be taken over or acquired by the etc., operation. 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 therea fter cha rged for the use thereof the rat es of to ll shall be so era ion, sink ing t o adjusted as to provide a fund sufficient to pay for the reasonable etc • co st of maintaining, repairing, and operating the bridge and its approaches under economical management, and to provide a sink- ing fund sufficient to amortize the amount paid therefor, including reasonable interest and financing costs, as soon as possible under reasonable charges, but within a period of not to exceed twenty years fr om the dat e of acquiring the same. After a sinking fund suffi- Maintenance as free g bridge, etc., after amor- cien t for su ch amort ization shall ha ve been so provid ed, such bridge tilin g costs. 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 its approaches under eco- Record of expendi. nomic al managem ent. An accurate record of the amount paid for turps and receipts. acqu iring th e bridge and its approac hes, the actual e xpenditu res for maintaining, repairing, 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. SEC. 6. The s aid Roy Clip ping er, Ulys Pyl e, E dgar Lea ther s, Swornt n a emenetcf Groves K. Flescher, Carmen Flescher, their heirs, legal representa- to be filed after com- tive s, and a ssigns, shall wi thin nin ety days after th e comple tion of p'etion . such bridge file with the Secr etary of War, and with the highw ay departments of the States of Illinois and Indiana, 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 therefor, and the actual financing and promotion costs . The Se cret ary of War m ay, and upon req uest of the high - reaxa mina` tionbySec-of . way 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 alle ged in t he state ment of costs so 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 Roy Clippinger, Ulys Pyle, Edgar Leathers, Groves K. Flescher, Carmen Flescher, their heirs, legal representatives, and assigns, shall make availab le all o f their records in conne ction wit h the co nstruc- tion financing, and promotion thereof. The findings of the Secre- Findings of secretary g~ n conclusive. tary of War as to the reasonable costs of the construction, financing, and prom otion of the bridge shall be conclusive for the purpos es

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