Page:United States Statutes at Large Volume 45 Part 1.djvu/564

 SEVENTIETH CONGRESS. SEss. I Cn. 547. 1928 . 513 vide for military and other purposes, the Gulf Coast Properties, ti°uiC oast Proper, may I n c ., its successors and assigns, be, and is hereby, authorized to con- at Rouses Point, N .Y. struct, maintain, and operate a bridge and approaches thereto across Lake Champlain, at a point suitable to the interests of navigation, between a point at or near Rouses Point, New York, and a point at Constru ction. or near Windmill Point, Vermont, or near Alburg, Vermont, in V ol. 34, p.8 . accordance with the provisions of the Act entitled "An Act to regu- late the construction of bridges over navigable waters," approved March 23, 1906, and subject to the conditions and limitations con- tained in this Act : Provid ed, That such bridge shall not be so No interference with located as to interfere with the landings and the cable used for the exi sting fer ry. operation of the existing ferry between Rouses Point and Alburg. SEC. 2. There is hereby conferred upon Gulf Coast Properties Right to acquire real I estate, etc.,forlocation, Inc ., its successors and assigns, all such rights and powers to enter app roac hes, etc. upon lands and to acquire, condemn, occupy, possess, and use real estate and other property needed for the location, construction, operation, and maintenance of such bridge and its approaches as are possessed by railroad corporations for railroad purposes or by bridge corporations for bridge purposes in the State in which such real estate or other property is situated, upon making just compen- sation therefor, to be ascertained and paid according to the laws of Condem nation pro - such State, and the proceedings therefor shall be the same as in the ceedings . condemnation or expropriation of property for public purposes in such State. SEC. 3 . The said Gulf Coast Properties, Inc ., its successors and Tol ls a uthor ized. 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 Vol.34,p.85. changed by the Secretary of War under the authority contained in the Act of March 23, 1906. SEC. 4. After the completion of such bridge, as determined by the Acq uisi tion auth oriz- ed, after completion, by Secretary of War, either the State of New York, the State of Ver- New York, Vermont, mont, any public agency or political subdivision of either of such etc. 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 and any interest in real property necessary therefor, by purchase or by condemnation or expropriation, in accordance with the laws of either of such States governing the acquisition of private Compensation if ac- property for public purposes by condemnation or expropriation. If q'I n"" by c onde mna -aataytimtimearththeexpiratno of twenyyear years aftthe completof 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, 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 bridge and its approaches and acquiring such interests in real property ; and (4) actual expenditures for necessary improvements. Tol ls u nder stat e, S EC. 5 . If such bridge shall at any time be taken over or acquired etc., operation. 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 Rates a pplied to op - are thereafter charged for the use thereof, the rates of toll shall be so eration, sinking fund, adjusted as to provide a fund sufficient to pay for the reasonable et c' cost 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 cost, as soon as possible under rea-

�