SEVENTIETH CONGRESS . SEss . I. Ca . 872. 1928.
961 approved March 23, 1906, and subject to the conditions and limitations contained in this Act . SEC . 2 . After the completion of such bridge, as determined by the Secretary of War, either the State of Georgia, any political sub- division thereof 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 necessary ther efor, by pur chase or by conde mnatio n or exprop riatio n, in accordance with the laws of such State governing the acquisition of privat e property for public purpo ses by condem nation or expr o- priation. If at any time after the expiration of twenty years after the completion of such bridge the same is acquired by condemnation or e xpropr iation , the amoun t of d amages or c ompens ation to be allowed shall not include good will, going value, or prospective revenues or profits, but shall be limited to the sum of (1) the actual cost of constructing such bridge and its approaches, less a reasonable deduction for actual depreciation in value
- (2) the actual cost of
acquiring such interests in real property ; (3) actual financing and promotion cost, 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 . SEC . 3 . If such bridge shall at any time be taken over or acquired by the State of Georgia, or by any municipality or other political subdivision or public agency thereof, under the provisions of section 2 of this Act, and if tolls are thereafter charged for the use thereof, the rates of toll shall be so adjusted as to provide a fund sufficient to pay for the reasonable cost of maintaining, repairing, and operat- ing t he bri dge an d its appro aches under econo mical manage ment and to provide a sinking fund sufficient to amortize the amount paid therefor, including reasonable interest and financing cost, as soon as possible under reasonable charges, but within a period of not to exceed twent y years from the date of a cquiring the s ame . After a sinking fund sufficient for such amortization shall have been so provided, su ch bridge sha ll thereafter be maintained and operated free of tolls, or the rates of toll shall thereafter be so adjusted as to provide a fund of not to exceed the amount necessary for the proper maintenance, repair, and operation of the bridge and its approaches under economical management . An accurate record of the amount paid for acquiring the bridge and its approaches, the actual expen ditures for m aintaining, r epairing, and operating the same, and of the daily to lls collected shall be kept and shall be available for the information of all persons interested . SEC. 4. The Uvalda Booster Club, its successors and assigns, shall, within ninety days after the completion of such bridge, file with the Secretary of ' War and wit h the highway department of the State of Georgia, 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 at the request of the highway department of the State of Georgia 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 promoting such bridge ; for the purpose of such investigation the said Uvalda Booster Club, its successors and assigns, shall make available all of its records in connection with the construction, financing, and promotion thereof . Acquisition author- ize d, a fter comp letio n, by Georgia, etc . Compensation if ac- quired by con de mns . tion. Lim itati ons . Tol ls un der Stat e, etc ., operation . Rat es a ppl ied to operation, sinking fund, etc . Maintenance as fr ee bridge, etc ., after amor tizing cos ts . Record of expendi- ture s and rec eipts . Swo rn st atem ent of construction costs, etc ., to be filed after comple- tion . Examination by Sec- retary of War .
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