Page:United States Statutes at Large Volume 46 Part 1.djvu/1100

 SEVEN TY-F IRST CONGRESS. SESS. III. Ca.88. 1931 . 1057 Flo rida, in accordan ce with the plan s and lo cation of the Boa rds of Pl ans and lo cati on. County Commissioners of Escambia and Santa Rosa, Florida, approved b y the Secretary of War Decembe r 5, 1928, at a point sui table to the inte rests of navigat ion, at or near G rassy Po int in Santa Rosa County, Florida, and in accordance with the provisions of the Act entitled "An Act to regul ate the construct ion of b ridges Col Construction . . n over navigable waters," approved March 23, 1906, and subject to the conditions and limitations contained in this Act. SEC. 2. After the completion of such bridge, as determined by the Fl u pon e c omplle ti n, Sec retary o f War, ei ther the State o f Florid a, any po litical subdi- quire all rights, etc. vi sion ther eof w ithin or adjoi ning whic h any part of such bridg e is located, or any two or more of them jointly, may at any time acq uire and take ove r all ri ght, tit le, and interest in such bridge and its approaches, and any interest in real property necessary therefor, by purchase or Ly condemnation or expropriation, in acc ordance with the laws of such Sta te gover ning the acquisit ion of private property for public purposes by condemnation or expropria- tion. If at any time after the expiration of five years after the completion of such bridge the same is acquired by condemnation or Dam ages, etc ., al- lo wed if acquire d by expropriation, the amount of damages or compensation to be allowed c onde mna tion pr ocee d- shall not include good will, going value, or prospective revenues or togs. profits but shall be limited to the sum of (1) the actual cost of etc ost of construction, constructing such bridge and its approaches, less a reasonable deduc- tion for actual depreciation in value ; (2) the actual cost of acquiring interests in realty . such interests in real property ; (3) actual financing and promotion Financing, etc .,Costs. cost, not to exceed 10 per centum of the sum of the cost of construct- ing the bridge and its approaches and acquiring such interests Expenditures for im- in real property ; and (4) actual expenditures for necessary provements. improvements. SEC. 3 . If such bridge shall at any time be taken over or acquired etc .o lls unde r state , by the State of Florida, or by any municipality or other political subdivision or public agency thereof, under the provisions of section 2 of this Act, and if tolls are thereafter charged for the 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 App lied to main. te nance, and sin king the bridge and its approaches under econ omical management and f und . t o provide a sinking 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 from the date of acquiring the same. After a brperati oe aas fr e sinking fund sufficient for such amortization shall have been so tion. provided, such bridge shall thereafter be maintained and operated free of tolls, or the rates of toll shall thereafter be so adjusted as to tTolls e adjintee pro vide a f und of no t to exc eed the amount n ecessary for the proper nance fund. mai ntenance, repair, and ope ration o f the br idge and its appr oaches under economical management. An accurate record of the amount Record of expendi. paid for acquiring the bridge and its approaches, the actual expendi- tares and receipts. tures for maintaining, repairing, and operating the same, and of the daily tolls collected Mail be kept and shall be available for the infor- mation of all persons interested. SEC. 4. Pensacola Bridge Corporation a Flor ida c orpor atio n Staledwtement of costs to ~ be fit th Secretary its successors and assigns, shall, within ninety days after the com- of war. pletion of such bridge, file with the Secretary of War and with the Highwa y Department of the State of F lorida, a sworn item- ize d statem ent showi ng the a ctual or iginal c ost of co nstructi ng the bridge and its approaches, the actual cost of acquiring any interest in real property necessary therefor, and the actual financing and promotion costs. The Secretary of War niay, and at the request of 57894'-31	-07

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