Page:United States Statutes at Large Volume 50 Part 1.djvu/497

 472 Acquisition, etc., of other bridges. Amortization of in- curred obligations. Toll rates. Bond issue. Provisos. Op eration n ot to im- pair earnings of any other bridge, etc. Power to acquire any other bridge con- ditional upon State approval. Regulation of toll rates. 34 Stat. 85 . 33U.S.C.°494 . Acquisition author- ized by States, cities, and countie s desig- nated. Conveyance by Boar d of Tru stees. 75TH CONGRESS, 1sT SESSION-CH. 426-JULY 2, 19 37 of Trustees under said Act of 1930, as herein amended, shall be deemed a Federal instrumentality for facilitating interstat e com- merce, improving the postal service, and providing for military and other governmental purposes. SnC. 3. That in addition to the powers granted by said Act of 1930, said the Omaha-Council Bluffs Missouri River Bridge Board of Trustees may acquire and purchase and thereafter operate any other bridge or bridges (including approaches) over the Missouri River, which (including approaches) abuts upon or enters into the corporate limits of either or both the cities of Omaha, Nebraska, and Council Bluffs, Iowa, all in the manner provided by this Act and said Act of 1930, it being contemplated that all bridges owned and oper- ated by said Board will be so financed that the obligations incurred will be amortized and the travel over such bridge or bridges will be made free of tolls at the same time. It shall be obligatory upon said Board that all toll revenues after paying the reasonable and proper charges of operation and maintenance and the accruing interest on the outstanding indebtedness be applied to the retirement of such indebtedness. The rate or rates of toll for crossing any bridge now or hereafter constructed which abuts upon or enters into the present corporate limits of both the cities of Omaha, Nebraska, and Council Bluffs, Iowa, shall not be reduced below the rate or rates now in effec t on exist ing br idges so lo ng as any indebt ednes s of said B oard for the account of any bridge or bridges shall be outstanding and unpaid. To pay th e cost of any such bridge or bridges s o pur- chased the board may either separately, or in conjunction with the financing of any other bridge, issue bonds as provided in said Act of 1930 as herein amended : Provided, That said Board shall operate each of the bridges under its control and charge and collect such rates of toll for transit over same as will not reflect upon or impair the earnings of any other bridge operated by said board, or of which the construction was financed in whole or in part by a loan and a grant from the United States of America, or any agency or instru- mentality thereof, to such extent as to adversely affect any out- standing bonds which may have been issued for account of such other bridge : Provided further, That the power granted in this sec- tion with respect to the acquisition and purchase of any other bridge shall not be exercised by said the Omaha-Council Bluffs Missouri River Board of Trustees until all terms of the proposed acquisition and purchase of any such bridge shall have been approved by the Highway Departments of the States of Iowa and Nebraska. The construction of no competing bridge shall hereafter be authorized, t he op eratio n of which will adver sely a ffect such outst andin g bond s, unless provision is otherwise made for the payment thereof : Provided further, That the rates of toll to be charged for transit over bridges operated by said Board shall at all times be subject to regulation by the Secretary of War under the authority contained in the Act of March 23, 1906. Sno. 4 . That either the State of Nebraska and the State of Iowa, separately or jointly, or the cities of Omaha and Council Bluffs, sepa- rately or jointly, or the counties of Douglas, Nebraska, and Pottawat- tamie, Iowa, separately or jointly, may at any time acquire and take over all right, title, and interest in all of the bridges, including approaches, and including any interest in real property necessary therefor, then owned and operated by said Board. It shall not be necessary to condemn or expropriate such property, but the said the Omaha-Council Bluffs Missouri River Bridge Board of Trustees, its legal representatives and assigns, shall deliver same by proper instru- ment of conveyance ; and no damages or compensation whatsoever