Page:United States Statutes at Large Volume 46 Part 1.djvu/1544

 SEVENTY-FIRST CONGRESS. SESS. III. Cia. 427 . 1931 . 1501 deemed practicable, and may also unite or group for financing pur- poses in any one issue of bonds such interstate bridges as the West Virginia Bridge Commission shall determine to be competitive, but no particular project or group shall be so united that any such project or group will include both interstate and intrastate bridges. If tolls are charged for the use of a bridge or bridges in a project, the rates of toll to be charged for the use of such bridge or bridges embraced in the particular project shall be so adjusted as to provide a fund not to exceed an amount sufficient to pay the reasonable costs of maintaining, repairing, and operating the bridge or all of the bridges included in the particular project and their approaches under econ omical man agement, a nd not to exceed an a mount sufficient, in addition to the foregoing, to provide a sinking fund sufficient to amortize the aggregate cost of the bridge or all of the bridges embraced in the particular project, and their approaches, includi ng reas onable intere sts and financ ing co sts, as soon a s poss ible under reasonable charges, but within a period not exceeding twenty- five years from the date of approval of this Act. The tolls derived from the bridge or bridges embraced in any particular project may be continued and paid into the appropriate sinking fund until all such costs of the bridges embraced in the particular project shall have been amortized. In any event tolls may be charged on the basis aforesaid for transit over the bridge or bridges in each project for which revenue bonds of said State are issued, and such tolls may be continued and adjusted at such rates as may be necessary to pay such bonds with interest thereon and any lawful premium for the retirement thereof before maturity, subject only to the power of the Secretary of War or other authorized Federal authority to regulate such rates. SEC. 6. The failure of the State of West Virginia, by and through the State Bridge Commission of West Virginia, to acquire, pur- chase, constru ct, improve, maintain, and operate any o ne or more of the foregoing bridges, or to unite or group any one or more for financing purposes, shall in no wise affect its authority or powers hereby granted to acquire, purchase, construct, improve, maintain, and operate su ch bridge or bridges as it may deem expe dient, and any one of the brid ges her ein aut hori zed may be pur chas ed, acquired, or constructed as a single project without uniting such bridge in a joint project with other bridges authorized herein. SEC. 7. When a sinking fund sufficient to amortize the cost of any bridge or bridges in any particular project or group or sufficient to pay the principal and interest on bonds issued for the purpose of financing such particular bridge or bridges or project or group shall have been provided to the extent hereinbefore required, the bridge or br idges inclu ded in any s uch pr oject or gr oup sh all thereafter be maintained and operated free of tolls. All tolls shall be uniform as between individuals and as between vehicles of the same class as to each bridge, but different rates of toll may be charged for the use of different bridges in any group of bridges included in a single project for financing purposes. SEC. 8 . The powers conferred by this Act are supplementary and additional to all other authority and powers heretofore granted by law for the construction of the hereinbefore named bridges, but all Acts or parts of Acts heretofore enacted authorizing the con- struction of the hereinbefore named bridges which are in conflict with the terms of this Act be, and the same are, hereby repealed in so far as such conflict exists. Nothing in this Act shall be construed as authorizing tolls to be charged for the use of any one or more of the hereinbefore named bridges except as hereinabove Tolls adjusted to maintenance, amortiz- ing costs, etc. Tolls to continue until costs amortized. Adj ustments in rates authorized. F ailur e to cons truct , etc , one or more bridges not to affect authority. Bri dges in a pr oject to be toll free, when costs amortized. Uniformity of tolls. Inconsistent laws re- pealed. Tolls for other pur pos es unauthori zed.

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