Page:United States Statutes at Large Volume 52.djvu/248

 52 STAT.] 75TH CONG. , 3D SESS.-CH. 109-APR. 7, 1938 SEC. 4. The State of Maryland, by and through its State Roads Commission or the successors of said commission, may unite or group all or such of said bridges into one or more separate projects for financing purposes as in its judgment shall be deemed practicable. If tolls are charged for the use of a bridge or bridges in a project, the rates of toll to be charged for the use of such bridge or bridges embraced in the particular project shall be so adjusted as to provide a fund not to exceed an amount sufficient to pay the reasonable costs of maintaining, repairing, and operating the bridge or all of the bridges included in the particular project and their approaches under eco- nomical management, and not to exceed an amount sufficient in addi- tion to the foregoing, to provide a sinking fund sufficient to amortize the aggregate cost of the bridge or all of the bridges embraced in the particular project, and their approaches, including reasonable interest and financing costs, as soon as possible under reasonable charges, but within a period not exceeding forty years from the completion of such bridge or from the date of completion of the last completed bridge in the particular project. The tolls derived from the bridge or bridges embraced in any particular project may be continued and paid into the appropriate sinking fund until all such costs of the bridge or bridges embraced in the particular project shall have been amortized. In any event, tolls may be charged on the basis aforesaid for transit over the bridge or bridges in each project for which revenue bonds of said State are issued, and such tolls may be continued and adjusted at such rates as may be necessary to pay such bonds with interest there- on and any lawful premium for the retirement thereof before maturity, subject only to the power of the Secretary of War or other authorized Federal authority to regulate such rates. SEC. 5. The failure of the State of Maryland, by and through its State Roads Commission, to construct, maintain, and operate any one or more of the foregoing bridges, or to unite or group any two or more for financing purposes, shall in no wise affect its authority or powers hereby granted to construct, maintain, and operate such bridge or bridges as it may deem expedient, and any one of the bridges herein authorized may be constructed, maintained, and operated as a single project without uniting such bridge in a joint project with other bridges authorized herein. SEC. 6. After a sinking fund sufficient to amortize the cost of any bridge or bridges in any particular project or group or sufficient to pay the principal and interest on bonds issued for the purpose of financing such particular bridge or bridges or project or group shall have been provided to the extent hereinbefore required, the bridge or bridges included in any such project or group shall thereafter be maintained and operated free of tolls: Provided, however, That tolls for the use of any such bridge or bridges may be continued thereafter in the event that such tolls shall have been pledged by the State Roads Commission to the payment of revenue bonds issued for any other bridge or bridges the construction of which is authorized herein. An accurate record of the cost of each bridge and its approaches, the expenditures for main- taining, repairing, and operating the same, and of the daily tolls col- lected shall be kept and shall be available for the information of all persons interested. SEC. 7. The powers conferred by this Act are supplementary and additional to all other authority and powers heretofore granted by law for the construction of the hereinbefore-named bridges, but all Acts or parts of Acts heretofore enacted, authorizing the construction of the hereinbefore-named bridges (except as applied to any bridge over the Potomac River) which are in conflict with the terms of this Grouping of projects for financing purposes. Application of tolls to operation, sinking fund, etc. Continuance until costs amortized. Adjustment of rates to pay bonds, etc. Separability provi- sions. Maintenance as free bridge, etc., after amortizing costs. Proviso. Continuance of tolls if pledged to payment of bonds. Record of expendi- tures and receipts. Nature of powers conferred. Repeal of conflict- ing Acts, etc. 207

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