Page:United States Statutes at Large Volume 47 Part 1.djvu/317

 72d CONGRESS. - SESS. I. CH. 225. JUNE 9, 1932. 293 construction of bridges over navigable waters," approved March 23, 1906, and subject to the co nditions and limit ations co ntained i n this Act . SEc. 2. There is her eby co nferre d upon the C ommonwe alth o f Ken- Aequlsitlon of rea l tuck and the State Highway Commission of Kentucky, or the sue- e'`t't„',,,te ., for loca- Y Yr t'on, approaches, etc . 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 corp oratio ns for railr oad pu rposes or by bridge corpo ra- tions for bridge purposes in the State in which such real estate or other property is situated, upon making just compensation therefor, to be ascertained and paid according to the laws of such State, and the proceedings therefor shall be the same as in condemnation or Condemnatio n pro. ex ropriation of property for public purposes in such State. eeedings. EC. 3 . The Commonwealth of Kentucky, by and through the State Highway Commission of Kentucky, or the successors of said commission, hereby is authorized to fix and charge tolls for transit over such bridge, and the rates o f toll so fixed shall be the le gal rates Tolls authorized. until chan ged b y th e Sec retar y of War under the auth ority con- Vol.34,p.as. tained in the Act of March 23, 1906. SEc. 4. If tolls are charged for the use of the bridge, the rates of Rates, applied to op. toll to be charged shall be so adjusted as to provide a fund not to ele"'„n' sinking fund, exceed an amount sufficient to pay the reasonable costs of maintain- ing, re pairin g, and opera ting t he bri dge and its a pproac hes un der 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 bridg e and its approach es, inclu ding reas onable interests and financing costs, as soon as possible under reasonable charges, but within a period not exceeding twenty years from the date of approval of this Act . In any event, tolls shall be charged band, Basis if revenue on the basis aforesaid for transit over the bridge if revenue bonds of the Commonwealth of Kentucky are issued, to provide money to pay all or any part of the cost thereof, and such tolls shall 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 authrized Federal authority to regulate such rates. After a sinking fund sufficient to amortize the cost of the bridge Maintenance as free and approaches - shall have been provided to the extent hereinabove tiz a aft er co sts amor- required, the bridge shall thereafter be maintained and operated free of tolls, or the rates of toll shall ther eafter be so adj usted as to provide a fund of not to exceed the amount necessary for the proper care, repair maint enance, and operat ion of the br idge a nd its ap- proaches. An accurate record of the cost of the bridge and its ap- tuRr Record and r of exM ndt- proaches, the expenditures for maintaining, repairing, and operat- ing same, and of the daily tolls co llected shall be kept and shall be available for the information of all persons interested. Tolls shall Tolls to be uniform. be uniform as between individuals and as between vehicles of the same class using the bridge. SEc. 5. Nothing in this Act shall be construed as requiring tolls of Dis Discretionary rights p to be charged for the use of such bridge, except as hereinabove pro- vided, and nothing herein shall be constructl to prohibit the Com- monw ealt h of Kentu cky, acti ng by and thro ugh t he St ate Highw ay Commission of Kentucky or its successors, from paying all or any art of the cost of such bridge and its approaches from the State