Page:United States Statutes at Large Volume 45 Part 1.djvu/1014

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SEVENTIETH CONGRESS . SEss . I. Cu. 874. 1928.

963 therefor, by purchase or by condemnation or expropriation, in accordance with the laws of such State governing the acquisition of private property for public purposes by con demnation or expro- priation . If at any time after the expiration of ten 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 n ot inc lude g ood wi ll, go ing va lue, or prosp ective reven ues 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 interest 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 interest in real property ; and (4) actual expenditures for necessary improvements . SE C. 3 . If such bridge shall at any time be taken over or acquired by the State of Missouri, 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 t he rea sonabl e cost of ma intaini ng, re pairin g, and oper- ating the bridge and its approaches under economical management and to provi de a s inking fund suffic ient to amort ize th e amou nt pai d therefor, including reasonable interest and financing cost, as soon as possible under reasonable charges, but within a period of not to exceed ten years from the date of acquiring the same . After a sink- ing fund sufficient for such amortization shall have been so provided, such bridge shall 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 mainte- nance, repair, and operation of the bridge and its approaches under economical management . An accurate record of the amount paid for ac quirin g the bridge and i ts app roaches , the actual expen diture s for maintaining, repairing, and operating the same, and of the daily tolls collected, shall be kept and shall be available for the informa- tion of all persons interested . SEC . 4. J . II . Haley, his heirs, legal representatives, and assigns, shall within ninety days after the completion of such bridge file with the Secretary of War and with the highway department of the State of Missouri 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 Mis- souri 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 snake a finding of the actual and reasonable costs of cons truct ing, finan cing , and prom otin g suc h bri dge ; for the pur- pose of such investigation the said J . H . Haley, his heirs, legal rep- resentatives, and assigns, shall make available all of its records in connection with the construction, financing, 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 2 of this Act, sub- ject only to review in a court of equity for fraud or gross mistake . SEC . 5 . The right to sell, assign, transfer, and mortgage all the rights, powers, and privileges conferred by this Act is hereb'y' granted to J . H . Haley, his heirs, legal representatives, and assigns, and any corporation to which or any person to whom such rights, powers, Compensation if ac- quired by condemna- tion. Limit atio ns . Tolls, under State, etc ., op eration . Rates applied to oper- ation, sinki ng fund, etc . Maintenance as free bridƒe, etc ., after amor- tizing costs . Record of expendi- ture and r ecei pts . Sworn statement of construction costs, etc ., to be filed after com- pletion . Investigation by Sec retary of war . Findings of Secretary conclusive . Rights to sell, etc ., conferred .