Page:United States Statutes at Large Volume 45 Part 1.djvu/821

 770 SEVENTIETH CONGRESS. SEss. I. Ca. 783. 1928 . 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 con demnat ion or expro priat ion, i n acco rdanc e with the l aws of either of such States governing the acquisition of private property Compensation if a°- quired by eondemna- for public purposes by condemnation or expropriation. If at any tion. time af ter the expir ation of twent y years after the completio n 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, Limitations. 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- Tol ls un der stat e, e rt y ; a nd (4) actual expenditures for necessary improvements. etc., operation. 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 Rates applied to op- eration, sinkin g fun d, are thereafter charged for the use thereof, the rates of toll shall be etc. s o 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 management, and to provide a sinking fund sufficient to amortize the amount paid therefor, including reasona ble interest and financing cost, as soon as possible u nder Maintenance as free reasonable charges, but within a period of not to exceed twenty years bridge, etc., after amor- from the date of acquiring the same. After a sinking fund sufficient tiling costs. for such amortization shall have been so 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, Record of expendi- and operation of the bridge and its approaches under economical tures and receipts. m an a ge m en t. An accurate record of the amount paid f or acquiring th e br idge and its app roac hes, the act ual expe ndit ures for mai ntai n- ing, repairing, and operating the same and of the daily tolls collected, shall be kept and shall be available for the information of all persons Sworn statement of inte rested. construction costs, etc ., SEC. 6. The Ripley Bridge Company, its successors and assigns, to be vied after compie- li on 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 Ohio and Kentucky a sworn itemized statement showing the actual original cost of constructing the bridge and its approaches, Examination by sec- the actual cost of acquiring any interest in real property necessary retary of war. therefor, and the actual financing and promotion costs. The Secre- tary 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 reason- able costs of constructing, financing, and promoting such bridge ; for the p urpose of suc h investigatio n the said Ri pley Bridge C ompany, Fin ding s of Secr etary its successors and assigns, shall make available all of its records in conclusive. connection with the construction, financing, and promotion thereof. The findings of the Secretary of War as to the reasonable costs of the c onstruction, financing, and promotion of the bridge s hall be conclusive for the purposes mentioned in section 4 of this Act ;

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