Page:United States Statutes at Large Volume 53 Part 2.djvu/271

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53 STAT.J 76TH CONG. , 18T SESS.-CH. 139-MAY 17, 1939 [CHAPTER 139] AN ACT Creating the Arkansas-Mississippi Bridge Commission; defining the authority, power, and duties of said Commission; and authorizing said Commission and its successors and assigns to construct, maintain, and operate a bridge across the Mississippi River at or near Friar Point, Mississippi, and Helena, Arkansas, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That in order to facilitate interstate commerce, improve the postal service, and provide for military and other purposes, the Arkansas-Mississippi Bridge Commission (hereinafter created, and hereinafter referred to as the "Commission"), and its successors and assigns, be, and are hereby, authorized to construct, maintain, and operate a bridge and approaches thereto, across the Mississippi River at or near the cities of Friar Point, Mississippi, and Helena, Arkansas, at a point suitable to the interest of navigation, in accordance with the provisions of the Act entitled "An Act to regulate the construction of bridges over navigable waters", approved March 23, 1906, subject to the conditions and limitations contained in this Act. SEC. 2. There is hereby conferred upon the Commission and its successors and assigns the right and power to enter upon such lands and to acquire, condemn, occupy, possess, and use such real estate and other property in the State of Arkansas and the State of Mississippi, as may be needed for the location, construction, opera- tion, and maintenance of any such bridge and its approaches, upon making just compensation therefor, to be ascertained and paid accord- ing to the laws of the State in which such real estate or other property is situated, and the proceedings therefor shall be the same as in the condemnation of private property for public purposes in said State, respectively. The Commission, its successors, and assigns is further authorized to enter into agreements with the States of Arkansas and Mississippi, and any political subdivision thereof, for the acquisition, lease, or use of any lands or property owned by such State or political subdivision. SEC. 3 . The Commission and its successors and assigns are hereby authorized to fix and charge tolls for transit over such bridge in accordance with the provisions of this Act, subject to the approval of the Secretary of War, as provided by the Act of Congress approved March 23, 1906. SEC. 4. The Commission and its successors and assigns are hereby authorized to provide for the payment of the cost of such bridge as may be constructed, as provided herein, and approaches (including the approach highways which, in the judgment of the Commission, it is necessary or advisable to construct or cause to be constructed to provide suitable and adequate connection with existing improved highways) and the necessary lands, easements, and appurtenances thereto, by an issue or issues of negotiable bonds of the Commission, bearing interest at the rate or rates of not more than 6 per centum per annum, the principal and interest of which bonds, and any pre- mium to be paid for retirement thereof before maturity, shall be payable solely from the sinking fund provided in accordance with this Act, and such payments may be further secured by a mortgage of the bridge. All such bonds may be registrable as to principal alone, or both principal and interest, shall be in such form not incon- sistent with this Act, shall mature at such time or times not exceeding twenty-five years from their respective dates, shall be in such denomi- nations, shall be executed in such manner, and shall be payable in such medium and at such place or places, as the Commission may deter- 98907°-39-Tr 2---16 747 May 17, 1939 IS.964] [Public, No. 80] Mississippi River. Bridge authorized across, near Friar Point, Miss., and Helena, Ark. 34 Stat. 84. 33U.S.C.§§491- 498. Acquisition of real estate, etc. Agreements author- ized. Tolls authorized. Bond issue to pro- vide for payment of cost. Interest, maturity, etc.