73d CONGRESS. SESS. II. C H. 596. JUNE 18, 1934 .
1009 SEC. 4. In fixing the rates of toll to be charged for the use of such t Rate ~do beoadopte bridge the same shall be so adjusted as to provide a fund sufficient tion, sinking fund, etc . 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 amortize the cost of such bridge and its approaches, including reasonable interest and financ- ing cost, as soon as possible, under reasonable charges, but within a period of not to exceed twenty years from the completion thereof . After a sinking fund sufficient for such amortization shall have been bridg ae ,en an te as f ree so provided, such bridge shall thereafter be maintained and oper- tizing costs . ated free of tolls , or the rates of toll shal l hereaft er 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 Recor d of exp endi- approaches under economical management . An accurate record of Lures and receipts, the cost of the bridge and its approaches, the expenditures for main . taining, repairing and operating the same, and of the daily tolls collected shall be kept and shall be available for the information of all perso ns intere sted . SEC . 5 . There is hereby created a body corporate and politic to be Co ma ssionhuereateae known as the " Port Arthur Bridge Commission ", which shall con- Composition sist of five members approved by the mayor of Port Arthur subject to the approval of a majority of the city commission . SEC . 6. The Commission shall consist of five members appointed by Membership ; terms, the mayor of Port Arthur, and shall be a body politic and corporate filling vacancies, etc. constituting a public-benefit corporation and shall be deemed a public body within the meaning of the National Industrial Recovery Act . The Commission shall elect a chairman from its members and may establ ish ru les an d regu lation s for the gov ernmen t of i ts own busi- ness . Each member shall serve for a term of five years and until his successo r has bee n appoint ed and ha s qualif ied, exce pt that t he initia l terms of the members shall be respectively one, two, three, four, and five years . The initial term of the member elected chairman shall be five years , and the Co mmissi on sha ll dete rmine by lot the i nitial terms of the other members . The mayor of Port Arthur, with the approval of a majority of the city commission, may appoint a suc- cessor to hold office for the unexpired term of any member in whose office a vacancy s hall occu r by deat h, resign ation, or otherwis e . E a ch member shall qualify by giving such bond as may be fixed by the governing body of the city of Port Arthur conditioned for the faith- ful performance of all duties required by this Act . Three members Quorum . shall constitute a quorum for the transaction of business . No me m- Members allowed ex- her shall receive a salary for his services as member, but each member penses ; no sal ary . shall be paid his actual expenses not exceeding $5 per day in the performance of his duties hereunder . Members of the Commission may be removed for cause by the mayor of Port Arthur and the majo rity of th e cit y co mmiss ion . The C ommission may employ a Employees. secretary, treasurer, engineers, attorneys, and such other experts, assistants, and employees as it may deem necessary, who shall be entitled to receive such compensation as the Commission may deter- mine. All salaries and expenses shall be paid solely from the funds provided under the authority of this Act . SEC. 7. The Commission shall have all the powers and authority Corporate powers . necessary or convenient for the carrying out of the purposes of this Act, including (but without limitation) the following rights, powers, and authority (a To h ave pe rpetua l succ ession as a corpora tion ; (b) To sue and be sued, implead and be impleaded, complain and defend in all courts of law and equity ; (c) To adopt, use, and alter a corporate seal ; 86637"-34-64
