Page:United States Statutes at Large Volume 53 Part 2.djvu/793

 53 STAT.] 76TH CONG. , 1 ST SESS.-CH. 608-AUG. 9, 1939 ance with standard tables of bond values, and the face amount thereof shall be so calculated as to produce, at the price of their sale, the cost of the bridge and its approaches and the land, easements, and appurtenances used in connection therewith, and, in the event the ferry or ferries are to be acquired, also the cost of such ferry or ferries and the lands, easements, and appurtenances used in connection there- with. The cost of the bridge and approaches and approach high- Items inch ways, and ferry or ferries, shall be deemed to include all engineering, legal, architectural, traffic-surveying, and other expenses incident to the acquisition of the bridge or the acquisition of the ferry or ferries, and the acquisition of the necessary property, and incident to the financing thereof subject to the limitation as is provided in section 13. If the proceeds of the bonds issued shall exceed the cost as finally suripls p determined, the excess shall be placed in the sinking fund hereinafternkingfund. provided. Prior to the preparation of definitive bonds the Commis- Temporary sion may, under like restrictions, issue temporary bonds or interim Issue. certificates with or without coupons of any denomination whatso- ever, exchangeable for definitive 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 Tolls to be bridge the same shall be so adjusted as to provide a fund sufficient rund Petc.' to pay for the reasonable cost of maintaining, repairing, and operat- ing the bridge and its approaches under economical 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 are hereby pledged to such uses and to the applica- tion thereof as hereinafter in this section required. After payment or provision for payment therefrom of all such cost of maintaining, repairing, and operating and the reservation of an amount of money estimated to be sufficient 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 Rocord of record of the cost of the bridge and its al)p)roaches; the expenditures lrs a"i" "ree" for maintaining, repairing, and operating the same.; and of thle daily tolls collected, shall be kept and shall be available for the information of all persons interested. The Commission shall classify in a reason- Tramc eI able way all traffic over the bridge, so that the tolls shall be so fixed ti"" and adjusted by it as to be uniform in the aplplication thereof to all traffic falling within any such reasonable class, regardless of the status or character of any person, firm, or corporation participating in such traffic, and shall prevent all use of such bridge for traffic except upon payment of the tolls so fixed and adjusted. SEC. 6. Nothing herein contained shall require the Commission or commission its successors to maintain or operate any ferry or ferries purchased quired ferry. hereunder, but in the discretion of the Commission or its successors any ferry or ferries so purchased, with the appurtenances and prop- erty thereto connected and belonging, may be sold or otherwise dis- posed of or may be abandoned and/or dismantled whenever in the judgment of the Commission or its successors it may seem expedient so to do. The Commission and its successors may fix such rates Ferry tolls; of toll for the use of such ferry or ferries as it may deem proper, subject to the same conditions as are hereinabove required as to tolls for traffic over the bridge. All tolls collected for the use of the ferry or ferries and the proceeds of any sale or disposition of any ferry or ferries shall be used, so far as may be necessary, to pay the cost of maintaining, repairing, and operating the same, and any residue ided in aced in bond applied sinking expndli- tl'ts. lsslfnca- not re- rate ac- ise of. 1269

�