Page:United States Statutes at Large Volume 46 Part 1.djvu/1093

 1050 SEVENTY-FIRST C ONGRESS. SEss. III. CH. 75. 1931. January 31, 1031. CHAP. 75 .-An Act Authorizing the Sycamore Bridge Company, its su c- [H. R. 5661 .] cessors and assigns, to construct, maintain, and operate a bridge across the (P ubli c, No . 588.] Wabash River at or near Fleshers Ferry, Indiana . Be it enacted by the Senate and House of Representativ es of the Sycae amore r . Bridge United States of America in Congress assembled, That in order to Company may bridge, promote interstate commerce, improve the postal service, and provide at Fleshers Ferry, Ind . for milit ary an d othe r pur poses, the S ycamo re Bri dge Co mpany, its success ors an d assig ns, be, and i s hereb y, auth orized to con struct, maintain, and operate a bridge and approaches thereto across the Wabash River, at a point suitable to the interests of navigation, at or near Fleshers Ferry, Indiana, in accordance with the provisions Construction . of the Act entitled "An Act to regulate the construction of bridges Vol . 34, p. 84. over navigable waters," approved March 23, 1906, and subject to the conditions and limitations contained in this Act. Right to acquire real estate, etc., for location, SEC. 2. There is hereby conferred upon the Sycamore Bridge , appr oache s, etc • Company, its successors and assigns, all such rights and powers to enter upon lands and to acquire, condemn, occupy, possess, and use real estate and other property needed for the location, construction, operation, and maintenance of such bridge and its approaches as are possessed by railroad corporations for railroad purposes or by bridge corporations for bridge purposes in the State in which such real estate or other property is situated, upon making just compen- sation th erefor, to be ascertained a nd paid accor ding to the la ws ceedingsmn ation pro- of such State, and the proceedings therefor shall be the same as in the conde mnation or exp ropriation of property for public purpos es in such State. Tolls authorized. SEC. 3 . The said Sycamore Bridge Company, its successors 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 Vol.34,p.85. until changed by the Secretary of War under the authority con- tained in the Act of March 23, 1906. Acquisition author- ized, after completion, SEC. 4 . After the completion of such bridge, as determined by by Indiana, Illinois, the Secretary of War, either the States of Indiana or Illinois, any etc ' public agency or political subdivision thereof 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 inte rest in such bri dge and its appr oach es, and any inte rest in real property necessary therefor by purchase or by condemnation or expropriation in accordance with the laws of either of such States governing th e acquisition of private p roperty for pu blic purposes Compensation, if ac- by condemnation or expropriation. If at any time after the expira- quired by c ondemns- ton . tion of five 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 Limit atio n. 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 prop- er ty ; (3) actual finan cing and promo tion costs, n ot 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. Tolls und er s tate, SEC. 5. If such bridge shall at any time be taken over or acquired etc ., operation. by the States of Indiana or Illinois, or by any municipality or other political subdivision or public agency thereof, under the provisions of section 4 of this Act, and if tolls are thereafter charged for the oration, sinking Rates sinking to fu nd, use thereof, the rates of toll shall be so adjusted as to provide a fund etc• sufficient to pay for the reasonable cost of maintaining, repairingg and operating the bridge and its approaches under economical man- agement and to provide a sinking fund sufficient to amortize the

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