Page:United States Statutes at Large Volume 46 Part 1.djvu/119

 76 SEVENTY-FIRST CONGRESS. SEss. II. Cx.62. 1930 . 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 property and (4) actual expenditures for necessary improvements. Tolls under stat es, SEC. 5. If such bridge shall be taken over and acquired by the etc ., operation. States or public agencies or political subdivisions thereof, or by either of them, as provided in section 4 of, this Act, and if tolls are op R ates applied i, g thereafter charged for the use thereof, the rates of toll shall be so fund, etc. 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 reasonable interest and financing cost, as soon as possible under reasonable charges, but within a period of not to exceed twenty years bridge, etc ., after as amorfree- from the date of acquiring the same. After a sinking fund sufficient ~, sinking tizing costs. for such amortization shall have been so provided, such bridge shall thereafter be maintained and operated free of tolls, or the rate of toll shall thereafter be so adjusted as to provide a fund of not to excee d the amoun t nec essary for the p roper maint enance, rep air, and operation of the bridge and its approaches under economical man- tares Record and receipts. i- agement. 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 available for the information of all persons Sworn statement of i nterested. construction costs, etc ., SEC. 6. The said Oscar Baertch, Christ Buhmann, Fred Reiter, toe toned aft er com- and John W. Shaffer, their heirs, legal representatives, and assigns, shall, within ninety days after the completion of such bridge, file w ith the S ecretary o f War and with the highway de partments of the States of Wisconsin and Minnesota 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 property Examination by see . ne cessary therefor, and the actual financing and promotion costs. retar y of war . Th e Secretary of War may, and upon request of the highway depart- inent 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 reasonableness of the costs alleged in the statement of costs so filed, and shall make a finding of the actual and reasonable costs of constructing, financing, and promoting such bridge. For the purpose of such investigation the said Oscar Baertch, Christ Buhmann, Fred Reiter, and John W. Shaffer, their he irs, legal r epresentati ves, and as signs shall make avail able all th eir Finding of secretary records in connection with the construction, financing, and promo- conclusive. tion thereof. The finding of the Secretary of War as to the reason- able 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 Right to sell, etc., mistake. conferred . SEC. 7. The right to sell, assign, transfer, and mortgage all the rights, powers, and privileges conferred by this Act is hereby granted to Oscar Baertch, Christ Buhmann, Fred Reiter, and John W. Shaffer, their heirs, legal representatives, 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 person.

�