Page:United States Statutes at Large Volume 60 Part 1.djvu/875

 PUBLIC LAWS-COH 753-AUG. 2, 1946 such bridge, and the rates so prescribed shall be the legal rates and shall be the rates demanded and received for such transit. ACQUrITON BY PUBIU AGENCIES SEC. 504. After the completion of any interstate toll bridge con- structed by an individual, firm, or corporation, as determined by the Secretary of War, either of the States in which the bridge is located, or any public agency or political subdivision of either of 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 interest in such bridge and its approaches, and any interest in real property for public purposes by condemnation or expropriation. If at any time after the expiration of five years after the completion of such bridge the same is acquired by condemnation or expropriation, the amount of damages or compensation to be allowed shall not include good will, going value, or prospective rev- enues or profits, but shall be limited to the sum of (1) the actual cost of constructing such bridge and its approaches, less a reasonable deduc- tion for actual depreciation in value- (2) the actual costs of acquir- ing such interests in real property; (3) 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. STATEMENTS OF COST Sec. 505. Within ninety days after the completion of a privately owned interstate toll bridge, the owner shall file with the Secretary of War and with the highway departments of the States in which the bridge is located, a sworn itemized statement 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 a highway department shall, at any time within three years after the completion of such bridge, investigate such costs and determine the accuracy and the reasonableness of the costs alleged in the statement of costs so filed, and shall make a finding of the actual and reasonable costs of constructing, financing, and pro- moting such bridge. For the purpose of such investigation the said individual, firm, or corporation, its successors and assigns, shall make available all of its records in connection with the construction, financ- ing, and promotion thereof. The findings of the Secretary of War as to the reasonable costs of the construction, financing, and promotion of the bridge shall be conclusive for the purposes mentioned in section 504 of this title subject only to review in a court of equity for fraud or gross mistake. BENXOTG FUVlD SEC. 506. If tolls are charged for the use of an interstate bridge constructed or taken over or acquired by a State or States or by any municipality or other political subdivision or public agency thereof, under the provisions of this title, the rates of toll shall be so adjusted as to provide a fund sufficient to pay 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 therefor, including reasonable interest and financn cost as soon as possible under reasonable charges, but within a period of not to exceed twenty years from the date of con- tructing or acquiring the same. After a nking fund sufficient for 848 [60 STAT.

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