Page:United States Statutes at Large Volume 46 Part 1.djvu/123

 80 SEVENTY-FIRST CONGRESS. SESS. II. Ca.69. 1930 . the proceedings therefor shall be the same as in the condemnation or expropriation of property for public purposes in such State. Tolls authorized. SEC. 3. The said C. N. Jenks, F. J. Stransky, L. H. Miles, John Grandy, and Bruce Machen, their heirs, legal representatives, and assigns, are 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 A ct of March 23, 1906. Acquisition author- SE C. 4. After the completion of such bridge, as determined by ized, after completion, by Illinois, Iowa, etc . the Secretary of War, either the State of Illinois, the State of Iowa, any public a gency or politic al subdivision of either of such States, within or adjoining wh ich any pa rt of s uch 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 interes t in real proper ty necessary the refor, by purchas e or by co ndemna tion or exp ropri ation, in accordance with the laws of either of such States governing the acquisition of private property compens ation if ac- for public purposes by condemnation or expropriation. If at any tion . by condemns- time after the expiration of ten years after the completion of such bri dge the sa me is acquired by co nde mnat ion or ex prop ria tio n, the amo unt of dam age s or compensation to be al low ed shall not include good will, going value, or prospective revenues or profits, Lim`tations, 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 deprecia tion in value ; ( 2) the act ual cos t of ac quir ing suc h 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 b ridge and its ap proaches and acq uiring such inter ests in real pro p- Tons under state erty ; and (4) actual expenditures for necessary improvements. etc ., operation. SEC. 5. If su ch bridge shall be taken over or acquired 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 are Rate, applied to op- thereafter charged for the use thereof, the rates of toll shall be so etction, sinking fund, adjusted as to provide a fund sufficiet to pay for the reasonable cost of maintaining, repairing, and operating the bridg e and its approaches under economical management and to provide a sinking fund sufficient to amortize the amount paid therefor, incl uding reasonable interest and financing cost, as soon as possible u nder reasonable charges, but within a period of not to exceed twenty bridge .e etc ., af ter s mo i- Mai ft a free ears from the date of ac quiri ng the same. After a sinking fund ~, tiling costs, etc. sufficient for such amortization shall have been so provided, such bridge shall thereafter be maintained and operated free of tolls, or the rates of toll shall thereafter be so adjusted as to provide a fund of not to exceed the amount necessary for the proper main- tenance, re pa ir, and operation of the bridge and its approaches Record of eapendi- under economical management. An accurate record of the amount tares and receipts. paid for acquiring the bridge and its approaches, the actual expenditures for maintaining, rep ai rin g, 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. C. N. Jenk s F. J. Stransky, L. H. Miles, John Grand construction costs, etc ., ~ 7 y1 to be filed after com- and Bruce Machen, their heirs, legal representatives, and assigns, pletion. shall, within ninety days after the completition of such bridge, file with the Secretar y of War and with the hig hway departmc gits of the States of Illinois and Iowa, a sworn itemized statement show- ing the actual original c ost of constructing the bridge and its approaches, the actual cost of acquiring any interest in real property n ecessa ry th erefor, and the a ctual finan cing and promotion costs. rotar y of war . Ex ami nat ion o by Sec- The Secretary of War may, and upon request of the highway department of either of such States shall, at any time within three

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