Page:United States Statutes at Large Volume 45 Part 1.djvu/819

 768 SEVENTIETH CONGRESS. SEss . I. CH. 781. 1928 . and its approaches, and any interest in real property necessary there- Co ndem nati on pro " for, by purchase or by condemnation or expropriation, in accordance ceedings . with the laws of such State governing the acquisition of private p ropert y for public purp oses b y cond emnat ion or expro priati on . Compensation if ac- If at any time after the expiration of twenty years after the com- o by con demn a- t pletion of such bridge the same is acquired by condemnation or ton . expropriation, the amount of damages or compensation to be allowed shall not include good will, going value, or prospective revenues, or Limitations . profit, but shall be limited to the sum of (1) the actual cost of con- structing such bridge and its approaches, less a reasonable deduc- tion for actual depreciation in value ; (2) the actual cost of acquir- ing such interests in real property ; (3) actual financing and promo- tion cost, not to exceed 10 per centum of the sum of the cost of constructing the bridge and its approaches and acquiring such inter- ests in real property ; and (4) actual expenditures for necessary improvements. To lls under Sta te, SEC. 3. If such bridge shall at any time be taken over or acquired etc ., operation. by the State of West Virginia or by any municipality or other political subdivision or public agency thereof, under the provisions Rates applied to op- of section 2 of this Act, and if tolls are thereafter charged for the eration, sinking fun d, use thereof, the rates of toll shall be so adjusted as to provide a fund sufficient to pay for the reasonable cost of maintaining, repairing, and operating the bridge and its approaches under economical man- agement and to provide a sinking fund sufficient to amortize the amount paid therefor, including reasonable interest and financing co st, as soon a s possi ble un der rea sonable charg es, but within a per iod of not to exceed twenty years from the date of acquiring the same. Maintenance as free bridge, etc ., after agar- After a sinking g fund sufficient for such amortization shall have been tiling costs. s o provided, such bridge 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 Re cord of e xpen di- under economical management. An accurate record of the amount tares and receipts • paid for ac uirin the bridge and its approaches, the actual expendi- tures for maintaining, repairing, and orating he same, and of the daily tolls collected shall be kept and shall be available for the information of all persons interested. Sworn statement of SEC .4. J. H. Harvell, his heirs, legal representatives, and assigns, construction costs, etc ., to be filed after com- shall within ninety days after the completion of such bridge file with pletion. the Secretary of War and with the highway d epartment of the State of West Virginia, 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 Examination by Sec- the actual financing and romotion costs. The Secretary of War rotary of war. may, and at the request of the highway department of the State of West Virginia shall, at any time within three years after the com- pletion 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 reasonable cost of constructing, financing, and promoting such bridge. For the purpose of such investigation the said J. H. Harvell, his heirs, legal represe ntative s, and assign s shall make a vailab le all of its record s in connection with the construction, financing, and promotion thereof. Findings of Secre- tart' conclusive. The findings of the Secretary of War as to the reasonable costs of the . construction, financing, and promotion of the bridge shall be con- clusive for the purposes mentioned in section 2 of this Act, subject only to review in a court of equity for fraud or gross mistake. n eoerr edto sell, etc ., SEC. 5 . The right to sell, assign, transfer, and mortgage all the rights, powers, and privileges conferred by this Act is hereby granted toJ.H . Harvell, his heirs, legal representatives, and assigns, and

�