Page:United States Statutes at Large Volume 46 Part 1.djvu/586

 S EVENTY-F IRST C ONGRESS. SESS. II. CH. 441. 1930. 543 its approac hes, less a reaso nable de duction for actua l deprec iation 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. (e) If such bridge shall be taken over or acquired by the States e tc, opent och er State, or public agencies or political subdivisions thereof, or by either of them as provided in section 2 (d) of this Act, and if tolls are there- after charged for the use thereof, the rates of toll shall be so adjusted erRates applied si nkin g d, as to provid e a fund sufficient to pay for the reasonable cost of main- etc • taining, repairing, and operating the bridge and its approaches un der e cono mical mana geme nt an d to prov ide a sink ing fund suffi - cient to amortize the amount paid therefor, including reasonable interest and financing cost, as soon as possible under reasonable cha rges, bu t within a period of not to excee d twenty years fr om the date of acquiring the same. After a sinking fund sufficient for such Maintenance as free bridge, etc, after amor- amortization shall have been so provided, such bridge shall there- tizing costs . after 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 maintena nce, repa ir, and opera- tion of the bridge and its approaches under economical management. An accurate record of the amount paid for acquiring the bridg , and tares and Record rece ipts. eipts. its approac hes, the actual e xpenditu res for maintaini ng, repa iring, and operating the same, and of the daily tolls collected, shall be kept and shall be available for the information of all persons interested. f) C . N. Jenks, F . J . Stransky, L. H . Miles, John Grandy, and swo rn stat ement of ( construction costs, etc ., Bruce Machen, their heirs, legal representatives, and assigns, shall, to e be led, af ter com - within ninety days after the completion of such bridge, file with the Secretary of War and with the highway departments of the States of Illinois and Iowa a sworn itemized statement showing the actual original cos t of constructing the bridge and i ts approaches, the actual cos t of acq uiring an y intere st in re al prope rty neces sary the refor, and the actual financing and promotion costs. The Secretary of War ieExamination , by sec. may, and upon request of the highway department 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 the reasonableness of the costs alleged in the statement of costs so filed, and shall make a finding of the actual and reasonable costs of construc ting, fin ancing, and prom oting su ch bridge ; f or t he pu r- pose of such investigation the said C. N. Jenks, F. J. Stransky, L. H. Miles, John Grandy, and Bruce Machen, their heirs, legal representati ves, and assigns, shall make avail able all of their records in connection with the construction, financi ng, and promotion thereof. The findings of the Secretary of War as to the reasonable ooi ndsne sofSecretary costs of the construction, financing, and prom otion of the bridge shall be conclusive for the purposes mentioned in section 2 (d) of this Act, subject only to review in a court of equity for fraud or gross mistake. (g) The right to sell, assig n, transfer, and mortgage all the r ights, con a redto sell, etc ., powers, and privileges conferred by this Act is hereby granted to C. N. Jenks, F. J. Stransky, L. H. Miles, John Grandy, and Bruce Machen, 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 ac quire the same by m ortg age f orecl osur e or other wise, is hereb y authorized and empowered to exercise the same as fully as though con ferred h erein dir ectly up on such corporat ion or pe rson.

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