Page:United States Statutes at Large Volume 45 Part 1.djvu/661

 610 SEVENTIETH CONGRESS. SEss. I. Cii. 633 . 1928 . city of Port Arthur and the Port Arthur Chamber of Commerce and Shipping. Tolls authorized. SEC. 3 . The said H. L. McKee, his heirs, legal representatives, and 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. Acquisition author- SEC. 4. After the completion of such bridge, as determined by the iz ed, a fter comp leti on, by Texas, Louisiana, Secretary of War, either the State of Texas, the State of Louisiana, e tc' 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, 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 property for qu ea pen at ion iifa- publi c purposes by condemnation or expropriat ion. If at an y tim e tion, after the expiration of ten years after the completion of such bridge, the s ame is acquir ed by condemna tion or expro priation, the amount of damages or compensation to be allowed shall not include good will, going value, or prospective revenues or profits, but shall be Lim itat ions. 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 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. etc ., ope rat ion . State, SEC . 5 . If such bridge and its approaches shall at any time be taken over or acquired 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 are thereafter charged for the use thereof, Rates applied to op- the rates of toll shall be so adjusted as to provide a fund sufficient etction, sinking fund, to pay for the reasonable cost o maintaining, repairing, and operat- ing 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 cost, as soon as possible under reasonable charges, but within a period of not to bridge, ai, etc ., et af after as amor- fre e exceed fifteen years from the date of acquiring the same. After a tizing costs, sinking fund sufficient for such amortization shall have been so pro- vided, such bridge shall thereafter be maintained and operated free of tolls, or rates of toll shall thereafter be so adjusted as to provide a fund of not to exceed the amount necessary for the proper main- tenance, repair, and operation of the bridge and its approaches under Record of expem tares and receipts, economical management. An accurate record 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 informa- tion of all perso ns inte rested. eoSwor nstcosentof SEC. 6. The said H. L. McKee, his heirs, legal representatives, and to be filed after com- assigns, shall within ninety days after the completion of such bridge, pletion. file with the Secretary of War and with the highway departments of the States of Texas and Louisiana, 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 f inancing and promotion cost s. Examination by Se c- The Secre tary of War ma y, and upon r equest of the highway depar t- retary of War. ment 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 alleged

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