Page:United States Statutes at Large Volume 47 Part 1.djvu/315

 72d CONGRESS. SESS. I. CH. 224 . J UNE 9, 1932 . 291 (C HAPTER 224 .1 AN ACT A uthori zing t he Comm onweal th of Kentuck y, by and thr ough t he Sta te Ilig h- way Commission of Kentucky, or the successors of said commission, to con- struct, maintain, and operate a toll bridge across the O hio River at or near Owensboro, and permitting the Commonwealth of Kentucky to act jointly with the State of Ind iana in the construction, maintenan ce, and operation of said bridge . Be it enacted by the Senate and House of Representatives of the Unite d Sta tes of Amer ica i n Con gress assei nbled, That in order to promo te in tersta te co mmerc e, im prove the p ostal servi ce, a nd mo re adeq uate ly p rovi de for mili tary and oth er p urpo ses the Comm on- wealth of Kentucky, by and through the State Highway Commission of Kentucky, or the successors of said commission, be, and it hereby is, au thori zed to cons truct , main tain, and operat e a b ridge acro ss the O hio R iver a t or near Owens boro, Kentu cky, and th e app roach es thereto, at a point suitable to the interests of navigation, in accord- ance with the provisions of an Act entitled "An Act to regulate the construction of bridges over navigable waters," approved March 23, 1906, a nd subje ct to the conditi ons and limitati ons cont ained in this Act. SEC. 2. There is hereby conferred upon the Commonwealth of Ken- tucky and the State Highway Commission of Kentucky, or the suc- cessors of said commission, all such rights and powers to enter upon lands and to acquire, condemn, occupy, possess, and use real estate and other property needed for the location, construction, and/or operation of such bridge and the approaches as are possessed by railroa d corpor ations fo r railro ad purpo ses or b y bridge corpora tions for bridge purposes in the State in which such real estate or other property is situated, upon making just compensation therefor, to be asce rtain ed and paid acco rding to th e law s of such S tate, and the proceedings therefor shall be the same as in condemnation or expro priat ion of prop erty for p ublic purpo ses i n such Stat e. SEC. 3. The Commonwealth of Kentucky, by and through the State High way Comm issi on of K entu cky, or the successors of said com- mission, hereby is authorized to fix and charge tolls for transit over such bridge, and the rates of toll so fixed shall be the legal rates until changed by the Secretary of War under the authority con- tained in the Act of March 23, 1906. SEC.4. If tolls are charged for the use of the bridge, the rates of toll to be charged shall be so adjusted as to provide a fund not to exceed an amount sufficient to pay the reasonable costs of maintain- ing, repairing, and operating the bridge and its approaches under economical management, and not to exceed an amount, in addition to the foregoing, to provide a sinking fund sufficient to amortize the aggregate cost of the bridge and its approaches, including reason- able i nterests and fin ancing c osts, as soon as possible under r eason- able charges, but within a period not exceeding twenty-five years from the date of approval of this Act. In any event tolls shall be charged on the basis aforesaid for transit over the bride if revenue bonds of the Commonwealth of Kentucky are issue to provide money to pa al l or any part of the cos t thereof, and su ch tolls shall be continued and adjusted at such rates as may be necessary to pay June 9, 1932 . [S. 463.5 .1 [Public, No. 167.1 Ohio River. Kentucky, etc , may bridg e, at Ow ensboro. Construction. Vol.34,p.84. Acqui sition of real est ate, etc , for loca. tine, approaches, etc. Condemnation pro . ceedings. To lls auth oriz ed. Vol.34, p.85. Rates, applied to op- oration, si nki ng fund, etc. Basis if revenue bonds issued.