Page:United States Statutes at Large Volume 53 Part 2.djvu/577

 53 STAT.] 76TH CONG. , IST SESS.-CH. 318-JULY 18, 1939 the said bridge, and for twelve months thereafter, and all engineer- ing, legal, architectural, traffic-surveying, and other expenses incident to the construction of the bridge and the acquisition of the necessary property, incident to the financing thereof, including the cost of acquiring existing franchises, riparian rights, plans, and works of and relating to the bridge or bridges now owned by any person, firm, or corporation, and the cost of purchasing all or any part of the shares of stock of any such corporate owner, or by conveyance from such corporation, if, in the judgment of the Commission, such pur- chases should be found expedient. If the proceeds of the bonds issued shall exceed the cost as finally determined, the excess shall be placed in the sinking fund hereinafter provided. Prior to the prep- aration of definite bonds the Commission may, under like restrictions, issue temporary bonds or interim certificates, with or without cou- pons, of any denominations whatsoever, exchangeable for definite bonds when such bonds that have been executed are available for delivery. SEC. 5. In fixing the rates of toll to be charged for the use of such bridge or bridges, in accordance with the Act of Congress approved March 23, 1906, the same shall be so adjusted as to provide a fund sufficient to pay for the reasonable cost of maintaining, repairing, and operating the bridge or bridges and approaches under econom- ical management, and to provide a sinking fund sufficient to pay the principal and interest of such bonds as the same shall fall due and the redemption or repurchase price of all or any thereof redeemed or repurchased before maturity as herein provided. All tolls and other revenues from said bridge or bridges are hereby pledged to such uses and to the application thereof as hereinafter in this section required. After payment or provision for payment therefrom of all such cost of maintaining, repairing, and operat- ing and the reservation of an amount of money estimated to be suffi- cient for the same purpose during an ensuing period of not more than six months, the remainder of tolls collected shall be placed in the sinking fund, at intervals to be determined by the Commission prior to the issuance of the bonds. An accurate record of the cost of the bridge or bridges and approaches; the expenditures for main- taining, repairing, and operating the same; and of the daily tolls collected, shall be kept and shall be available for the information of all persons interested. The Commission shall classify in a reason- able way all traffic over the bridge or bridges so that the tolls shall be so fixed and adjusted by it as to be uniform in the application thereof to all traffic falling within reasonable classes, regardless of the status or character of any person, firm, or corporation partici- pating in such traffic, and shall prevent all use of such bridge or bridges for traffic except upon payment of tolls so fixed and adjusted. No toll shall be charged officials or employees of the Commission, nor shall toll be charged officials of the Government of the United States while in the discharge of duties incident to their office or employment, nor shall toll be charged members of the fire depart- ment or peace officers when engaged in the performance of their official duties. Within a reasonable time after the construction of any bridge or bridges, or the purchase of any bridge or bridges, the Commission shall file with the Public Roads Administration of the Federal Works Agency a sworn itemized statement showing the cost of constructing or purchasing the bridge or bridges and their approaches, the cost of acquiring any interest in real or other property necessary there- for, and the amount of bonds, debentures, or other evidence of indebtedness issued in connection with the construction or purchase of said bridge or bridges. 1053 Disposition of ex- cess, if proceeds of bonds issued exceed cost. Issue of temporary bonds. Application of tolls to maintenance, sink- ingfund, etc. 34 Stat. 85. 33 U. S.C. §494. Residue to be placed in sinking fund. Record of expendl- tlres and receipts. (lassification of traf- fic. Toll exemptions. Sworn itemized statement of costs, etc., to be filed.

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