Page:United States Statutes at Large Volume 45 Part 1.djvu/758

 SEVENTIETH CONG RESS. SESS. I. Cu. 682 . 1928 . 707 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 public purposes by condemnation or expropriation. If at any time after the expiration of ten 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 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 prop- erty ; and (4) actual expenditures for necessary improvements. SEC. 5. If such bridge 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, the rates of toll shall be so adjusted as to provide a fund sufficient to pay for the reasonable cost of main tain ing, rep airi ng, and oper atin g th e br idge and its appr oach es u nder eco nomi cal mana geme nt, and to p rovi de a sin king fund sufficient to amortize the amount paid therefor, including reasonable interest and financing cost, as soon as possible under rea- sonable charges, but within a period of not to exceed ten years from the date of acquiring the same. After a sinking fund sufficient for such amortization shall have been so provided, such bridge shall thereaft er be ma intained and ope rated fr ee of to lls, or t he 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 oper atio n of the bri dge and its appr oach es u nder eco nomi cal man- agement. 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 avail able for the info rmati on o f all per sons i ntere sted. SEC. 6. The said Henry Horsey, Winfield Scott, A. L. Ballegoin, and Frank Schee, their heirs, legal representatives, and assigns, shall within ninety days after the completion of such bridge file with the Secretary of War and with the highway departments of the States of Iowa and Missouri, a sworn itemized statement showing the actual origi nal cost of c onstr ucti ng th e br idge and its appro ache s, th e ac tual cost of acquiring any interest in real property necessary therefor, and the actual financing and promotion costs. The S ecretar y of War may, and upon request of the highway 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 alleged in the statement of costs so filed, and shall make a finding of the actual and reasonable costs of constructing, financing, and promoting such bridge ; for the pur- pose of such investigation the said Henr y Horsey, Winfield Scott, A. L. Ballegoin, and Frank Schee, their heirs, legal representatives, and assi gns, sha ll make availabl e all of their r ecords in connect ion with the construction, financing, and promotion thereof. The find- ings of the Secretary of War as to the reasonable costs of the con- struction, financing, and promotion of the bridge shall be conclusive Compensation if as quired by condemns. tion. L imita tion s. Tolls under State, etc., operation . Rates applied to op- eration, sinking fund, etc. Maintenance as free bridge, etc ., after amor- tizing costs Recor d of exp endi- tures and receipts. Sworn sta teme nt of construction costs, etc ., to be filed after com- pletion. Examination by Sec- retary of War. Findi ngs o f Se creta ry con clu siv e.

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