Page:United States Statutes at Large Volume 49 Part 1.djvu/1098

 7 4TH CONGR ESS. SESS. I. CH. 833. AUGUST 30, 1935. 1 053 such States, 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 int erest in such bridge and its approaches, and all interest in real property necessary therefor, by purchase. or by condemnation or expropriation, in accordance with the laws of either of such States governing the acquisition of private property for public purposes by condemnation or expro- priation. If at any tim e after the exp iration of fiv e years after conveyance sub- je ct o nly to indebted- the completion of such bridge the same is acquired by condemna- ness, etc ., for construc- tion or expropriation, the amount of damages or compensation to tion, etc. 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 approaches, less a reasonable deduction for actual depreciation in value ; (2) the actual cost of acquiring such interests in real property ; (3) the 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 at any time be taken over or acquired etc ., To lls per a oar State, by the States or public agencies or political subdivisions thereof, or by either of them as provided in subsection (d) of this section, and if tolls are thereafter charged for the use thereof, the rates Tolls applied to op- of toll shall be so adjusted as to provide a fund sufficient to pay etetion, sinking fund, for the reasonable cost of maintaining, repairing, and operating the bridge and its approaches under economical management and to provide a sinking fund sufficient to amortize the amount paid there- for, including reasonable interest and financing cost, as soon as pos- sible under reasonable charges, but within a period of not to exceed twenty years f rom the date of acquir ing the same. Af ter a sink ing Maintenance as free fund sufficient for such amortization shall have been so provided, ti ng costs . afteramor- such bridge shall thereafter 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 mainte- nance, repair, and operation of the bridge and its approaches under economical management. An accurate record of the amount paid Record of espendi- for acquiring the bridge and its approaches, the actual expenditures tares and receipts. 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 intere sted. (f ) M. R. Carpenter, hi s heirs, legal representa tives, and assigns, cotista ter` t t~ t shall within ninety days after the completion of such bridge file to be filed after com- with the Secr etary of War and with the Highway Department s of pleti°n- the Sta tes of Maryland and We st Virg inia, a sworn i temized state- ment showing the actual original cost of constructing the bridge and its approaches, the actual cost of acquiring any interest in real property necessary therefor, and the actual financing and promotion costs. The Secretary of War may, and upon request of the highway rotar y Inve stigation by See- department of either of such States shall, at any time within three years after the completion of such bridge, investigate such costs and deter mine th e accura cy and the reas onablen ess of t he cost s allege d in the statement of costs so filed, and shall make a finding of the actual and reasonable costs of constructing, financing, and promoting such bridge ; for the purpose of such investigation the said M. R. Records to be avail- Carpenter, his heirs, legal representatives, and assigns, shall make able, available all of its records in connection with the construction, financ- ing, and promotion thereof. The findings of the Secretary of War Find ings of S ecretary as to the reasonable costs of the construction, financing, and promo- concl"sive' tion of the bridge shall be conclusive for the purposes mentioned