Page:United States Statutes at Large Volume 48 Part 1.djvu/168

 142 73d CONGRESS. SESS. I. CH.73. JUNE 14, 1933 . Construction. of navigation, in accordance with the provisions of an Act entitled VD1 .34,p .84. "An Act to regulate the construction of bridges over navigable re Approval by Canada waters " , approved March 23, 1906, subject to the conditions and limitations contained in this Act, and subject to the approval of the proper authorities in the Dominion of Canada. For like purpose s said Commission and its successors and assigns are hereby authorized operation of terries. to purchase, maintain, and operate all or any ferries across the Saint Lawrence River within five miles of the location which shall be sele cted for sai d br idge, su bjec t to the con diti ons and limi tati ons contained in this Act, and subject to the approval of the proper authorities in the Dominion of Canada. Right to acquire real estate, etc., in New SEC. 2. There is hereby conferred upon the Commission and its York for location, etc » successors and assigns all such rights and powers to enter upon lands and to acquire, condemn, occupy, possess, and use such real estate and other property in the State of New York as may be needed for the location, construction, operation, and maintenance of such bridge and its approaches as are possessed by railroad corporations for rail road pur pose s or by brid ge c orpo rati ons for brid ge p urpo ses in the State o f New York, u pon making ju st compensatio n therefor, Condemnatio n pro- to be ascertained and paid according to the laws of such State, and cee din gs. the proceeding s therefor sh all be the sa me as in the c ondemnation of private property for public purposes in such State ; and the Com- Right to acquire real mission and its successors and assigns may exercise in the Dominion estate in Canada . of Canada all rights, powers, and authority which shall be granted or permitted to the Commission by the proper authorities of the Dominion of Canada or of the Province of Ontario, including the entering upon lands and acquiring, condemning, occupying, possess- ing, and using such real estate and other property in the Dominion of Canada as may be needed for such location, construction, opera- tion, and maintenance of such bridge. Tolls authorized. SE C. 3. The Commission and its successors and assigns are hereby authorized to fix and charge tolls for transit over such bridge and such ferry or ferries in accordance with the provisions of this Act. Bond issue to cover SE C. 4. The Commission and its successors and assigns are hereby authorized to provide for the payment of the cost of the bridge and its approaches and the ferry or ferries and the necessary lands, to Interest . rate, ma. easements, and appurtenances thereto by an issue or issues of negotiable bonds of the Commission, bearing interest at not more than 6 per centum per annum, the principal and interest of which bonds and any premium to be paid for retirement thereof before maturity shall be payable solely from the sinking fund provided Registering b onds. in accordance with this Act. Such bonds may be registerable as to principal alone or both principal and interest, shall be in such form not inconsistent with this Act, shall mature at such time or times not exceeding thirty years from their respective dates, shall be in such denominations, shall be executed in s uch manner and be Redemption, etc. payable in such medium and at such place or places as the Commis- sion may determine. Th e Commissi on may rep urchase an d may reserve the right to redeem all or any of said bonds before maturity in such manner and at such price or prices, not exceeding one hundred and five and accrued interest, as may be fixed by the Com- Trust agreement. mission prior to the issuance of the bonds. The Commission may enter into a n agre ement with any ba nk or trust compa ny in the United States as trustee having the power to make such agreement, setting forth the duties of the Commission in respect of the con- struction, maintenance, operation, repai r, and insur ance of the bridge and/or the ferry or ferries, the conservation and application of all funds, the safeguarding of moneys on hand or on deposit, and the rights and remedies Of, said trustee and the holders of the