Page:United States Statutes at Large Volume 46 Part 1.djvu/1085

 1042 S EVENTY-F IRST C ONGRESS. SEss. III. CH.46. 1931. tion therefor, to be ascertained and paid according to the laws of such State, and the proceedings therefor shall be the same as in the con- demnation or expropriation of property for public purposes in such State. Toll s au thor ized. SEC. 3. The said W. L. Eichendorf, his heirs, legal representatives, and assigns, are hereby authorized to fix and charge tolls for transit vol. 34,p. 85. 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 in the Act of March 23, 1906. Acquisition author- SEC. 4. After the completion of such bridge, as determined by the ized, after comp letion, by Wisconsin, Iowa, Secretary of War, either the State of Wisconsin, the State of Iowa, etc• any public agency or political subdivision of either of such States, within or adjoining which any' part of the 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 Compensation if as- for public purposes by condemnation or expropriation. If at any q~ ed by condemns- time after the expiration of twenty 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 Limitation, 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 interest in real prop- erty ; and (4) actual expenditures for necessary improvements. Tol ls un der State, SEC. 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 era aces applied tuna- are thereafter charged for the use thereof, the rates of toll shall be e tc. so adjusted as to provide a fund sufficient to pay for the reasonable cost of mai ntainin g, rep airing, and op erating the br idge an d its appr oaches under e conomi cal man agement, and t o provi de a si nking 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 exceed twenty years Maintenance as free fr om the da te of acquiring tizing costs. ame. After a sinking fund sufficient bridge, osts after amor- for such amortization shall have been so provided, such bridge shall thereafte r be maintained an d operated free o f tolls, or the r ates 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 under economical manage- Record of expends- ment. An accurate record of the amount paid for acquiring the tures and receipts. 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 information of all persons interested. Sworn statement of SEC. 6. W. L. Eichendorf his heirs > legal representatives, and construction costs, etc ., > to be filed after comple- assigns, shall, within ninety days after the completion of such tion. bridge, file with the Secretary of War, and with the highway departments of the States of Wisconsin and Iowa, 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 Examination by Sec- property necessary therefor, and the actual financing and promotion retary of War. costs. The Secretary of War may, and upon the request of the

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