Page:United States Statutes at Large Volume 46 Part 1.djvu/1094

 SEVENTY-FIRST C ONGRESS. SEss. III. CH. 75. 1931. 1051 amount paid therefor, including reasonable interest and financing costs, as soon as possible under reasonable charges, but within a period of not to exceed fifteen years from the date of acquiring the same. After a sinking fund sufficient for such amortization shall have been so provided, such bridge shall thereafter be maintained and opera ted free of tolls, or the r ates of t oll shall thereaft er be so adjusted as to provide a fund of not to exceed the amount necessary for the prope r main tenanc e, rep air, a nd oper ation of the bridg e and its approaches under economical management. 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 information of all persons interested. SEC. 6. The Sycamore Bridge Company, its successors and assigns, shall, wi thin nine ty days a fter the completio n of such bridge, file with the Secretary of War and with the highway departments of the States of Indiana and Illinois a sworn itemized statement showing the actua l origina l cost of construc ting the bridge an d its app roaches, the act ual co st of acquir ing an y inte rest in real proper ty nec essary therefor, and the actual financing and promotion costs. The Secre- tary of War may, and at the request of the highway departments of either of such States shall, at any time within three years after the comple tion o f such bridg e, inv estiga te such costs and d etermi ne 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 purpose of such investigation the said Sycamore Bridge Com- pany, its successors and assigns, shall make available all of its records in connection with the construction, financing, and promotion thereof. The findings of the Secretary of War as to the reasonable costs of the construction, financing, and promotion of the bridge shall be conclusive for the purposes mentioned in section 4 of this Act, subject only to review in a court of equity for fraud or gross mistake. SEC. 7. The right to sell, assign, transfer, and mortgage all the rights, powers, and privileges conferred by this Act is hereby granted to the Sycamore Bridge Company, its successors and assigns ; and any corporation to which or any person to whom such rights, powers, and privileges may be sold, assigned, or transferred, or who shall acquire the same by mortgage foreclosure or otherwise is hereby authorized and empowered to exercise the same as fully as though conferred herein directly upon such corporation or persons. SEC. 8 . All contracts made in connection with the construction of the bridge authorized by this Act and which shall involve the expendi- ture of more than $5,000 shall be let by competitive bidding. Su ch contracts shall be advertised for a reasonable time in some news- paper of general circulation published in the States in which the bridge is located and in the vicinity thereof ; sealed bids shall be required and the contracts shall be awarded to the lowest responsible bidder. Verified copies or abstracts of all bids received and of the bid or bids accepted shall be promptly furnished to the highway departments of the States in which such bridge is located. A failure to comply in good faith with the provisions of this section shall render null and void any contract made in violation thereof, and the Secretary of War may, after hearings, order the suspension of all work upon such bridge until the provisions of this section shall have been fully complied with. SEC. 9 . The right to alter, amend, or repeal this Act is hereby expressly reserved. Approved, January 31, 1931. Maintenance, as a f ree bridge, etc ., after amortizing costs . Recor d of exp enses and receipts. Sworn sta teme nt of construction costs, etc ., to be filed on comple- tion. Examination by Sec- retary of War. Findings of Secretary conclusive. Ante, p.1050. Right to sell, etc ., con fer red. Construction co n- tracts by competitive bidding. Advertisements, etc Contract s void in violation. Amendme nt.

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