Page:United States Statutes at Large Volume 47 Part 1.djvu/1583

 72d C ONGRESS. SESS. II. CH. 271 . MARCH 4, 1933. 1559 MERRIMACK RIVER NEAR PLUM ISLAND POINT, MASSACHUSETTS SEC. 9. (a) That in order to promote interstate commerce, improve Merrimack River near Plum Island the postal service, and provide for military and other purposes, Point. Mass. Essex Shore Way (Incorporated), its successors and assigns, be, and is hereby, authorized to construct, maintain, and operate a bridge and approaches thereto across the Merrimack River, at a point suit- able to the interests of navigation, at or near Plum Island Point, Construction. Vol. n on. Massachusetts, in accordance with the provisions of the Act entitled "An Act to regulate the construction of bridges over navigable waters," approved March 23, 1906, and subject to the conditions and limitations contained in thi s Act. (b) After the completion of such bridge, as determined by the Acquisition author- Secretary of War, either the Commonwealth of Massachusetts, any by Massachusetts, etc. political subdivision thereof within or adjoining which any part of such 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 interest in real property necessary therefor, by pur ch ase or by condemnation or expropriation, in accor danc e wi th the l aws of s uch Comm onwe alt h go vern ing the .acquisition of private property for public purposes by condemnation or expro priation. If a t anytim e after the expi ration o f ten ye ars conveyance subject only to indebtedness, .after the completion of such bridge the same is .acquired by con- etc., after construction. demnation or expropriation, the amount of damages. or compensation to be allowed shall not include good will, going value, or prospective revenues or profits, but shall be limited to the sum of (1) the actual cost of constructing such bridge ,and its aspproaches, 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 cost, not to exceed 10 per centum of the -B-um of the cost of constructing the bridge and its approaches and acquiring suchh interests in real property ; and (4) actual expenditures for necessary improvements. under Talls (c) If such bridge shall at any time be taken over or acquired by ELC> o. the Commonwealth of Massachusetts, or by any miani cipality or other political subdivision or public agency thereof, under the provisions of section 2 o f this Act, and if tolls are the reafter charged for the use thereof, the rates of toll shall be so adjusted as to provide a fund e ra tion suff ici ent to pay for the rea sona ble cos t of ma inta ini ng, repa iri ng, etc- and ope rating t he bridg e and it s approa ches und er econo mical ma n- agement and to provide a sinking fund sufficient to amortize the amount paid the refor, i ncluding reasona ble inte rest and financi ng cost, as soon as possible under reasonable charges, but within a period of not to excee d twenty years f rom the date of acquirin g the sa me. After a sinkin g fund sufficien t for such amort ization shall ha ve been bM ama ce after am ft es so provided, such bridge shall thereafter be maintained and operated tizingeo~- 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 maintenance, repair, and operation of the bridge and its approaches under economical management. An accurate record of the amount Dana paid for ac quiring-the brid ge and its appro aches, the actua l expendi- tures 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 interested. (d) The Essex Shore Way (Incorporated), its successors and s•'om statement of construction cost, etc ., assigns, shall, within ninety days after the completion of such bridge, to lieenfiled after com- file with the Secretary of War and with the Public Works Depart- ment of the Com monwealt h of Mas sachuset ts a swo rn itemi zed stat e- ment showing the actual original cost of constructing the bridge