Page:United States Statutes at Large Volume 70.djvu/728

 672

D i s p o s a l of existing bridge.

Record.

Conveyance to I o w a and niinois interests.

Conditions.

PUBLIC LAW 811-JULY 26, 1966

[70

ST A T.

shall file with the Commissioner of Public Roads, Department of Commerce, a sworn itemized statement showing the cost of constructing or reconstructing or purchasing the bridge or bridges and their approaches, the cost of acquiring any interest in real or other property necessary therefor, and the amount of bonds, debentures, or other evidence of indebtedness issued in connection with the construction or reconstruction or acquisition of said bridge or bridges. SEC. 6. Nothing herein contained shall require the commission or its successors to maintain or operate any presently existing bridge acquired hereunder, if and when all bonds issued for account of such bridge shall have been retired or provision for the payment of interest on and the retirement of such bonds from the revenues from any other bridge shall have been made at the time of issuance of such bonds. Any such presently existing bridge so acquired and any appurtenances and property thereto connected and belonging, may be sold or otherwise disposed of or may be abandoned or dismantled whenever in the judgment of the commission or its successors, and subject to the approval of the Commissioner Public Roads, and the Secretary of the Army, it may be declared expedient so to do, and provisions with respect to and regulating any such sale, disposal, abandonment, or dismantlement may be included in proceedings for the issuance and sale of bonds for account of any such bridge. The commission and its successors may fix such rates of toll for the use of such bridge as it may deem proper, subject to the same conditions as are hereinabove required as to tolls for traffic over the bridge to be constructed, provided tolls shall be fixed and revised from time to time for traffic over all bridges so as not to adversely reflect upon tTie earnings of any bridge or bridges for account of which bonds may be outstanding. An accurate record of the cost of acquiring or constructing each such bridge; the expenditures for maintaining, 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. SEC. 7. (a) After payment of the bonds and interest, or after a sinking fund sufficient for such payment shall have been provided and shall be held solely for that purpose, the commission shall deliver deeds or other suitable instruments of conveyance of the interest of the commission in and to that part of said bridge or bridges within Iowa to the State of Iowa or any municipality or agency thereof authorized by or pursuant to law to accept the same (hereafter referred to as the "Iowa interests"), and that part of said bridge or bridges within Illinois to the State of Illinois or any municipality or agency thereof authorized by or pursuant to law to accept the same (hereafter referred to as the "Illinois interests"), under the condition that the bridge or bridges shall thereafter be free of tolls and be properly maintained, operated, and repaired by the Iowa interests and the Illinois interests, as may be agreed upon; but if the Iowa or Illinois interests, as the case may be, fail to accept, or are not authorized to accept, their respective portions of said bridge or bridges, then the commission may deliver deeds, or other suitable instruments of conveyance of said portions, to any other interest which may accept and may be authorized to accept the same, under the condition that the bridge or bridges shall thereafter be free of toll and be properly maintained, operated, and repaired by the interests to whom said conveyances are delivered; but if either the Iowa interests, or the Illinois interests, or any other interest hereinabove mentioned shall not be authorized to accept or shall not accept the same under such conditions, then the bridge or bridges shall continue to be owned, maintained, operated, and repaired by the commission as a toll bridge, tolls to be charged being reduced so as to provide only such money as may

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