Chapter 226. Granting the consent of Congress to the Vicksburg Bridge and Terminal Company to construct, maintain, and operate a bridge across the Mississippi River at or near the city of Vicksburg, Mississippi
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CHAP. 226.— An Act Granting the consent of Congress to the Vicksburg Bridge and Terminal Company to construct, maintain, and operate a bridge across the Mississippi River at or near the city of Vicksburg, Mississippi.May 3, 1926.[[H. R. 9758](/us/bill/69/hr/9758).][[Public, No. 170](/us/pl/69/170).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*,Mississippi River.Vicksburg Bridge and Terminal Company may bridge, at Vicksburg, Miss.
That the consent of Congress is hereby granted to the Vicksburg Bridge and Terminal Company, its successors and assigns, to construct, maintain, and operate a bridge and approaches thereto across the Mississippi River, at a point suitable to the interests of navigation, between a point in the city of Vicksburg, Mississippi, at or near the crossing of the Dixie Overland Highway, and a point opposite in the State of Louisiana, at or near the continuation of the Dixie Overland Highway, in accordance with the provisions of the Act entitledConstruction.
“An Act to regulate the construction of bridges over navigable waters,” approved March 23, 1906, and subject to the conditions andVol. 34, p. 84. limitations contained in this Act. Sec. 2. There is hereby conferred upon the said VicksburgAuthorized to acquire real property, etc., for approaches, etc. Bridge and Terminal Company, its successors and assigns, all such rights and powers to enter upon lands and to acquire, condemn, appropriate, occupy, possess, and use real estate and other property 389 needed for the location, construction, operation, and maintenance of such bridge and its approaches and terminals as are possessed by bridge corporations for bridge purposes in the State or States in which such real estate and other property are located upon making just compensation therefor, to be ascertained and paid according to the laws of such State or States; and the proceedings therefor shall be the same as in the condemnation and expropriation of propertyCondemnation procedure. in such State or States.
Sec. 3. The said Vicksburg Bridge and Terminal Company, itsTolls allowed. successors and assigns, are hereby authorized to fix and charge tolls for transit over such bridge, and the rates so fixed shall be the legal rates until changed by the Secretary of War under the authorityVol. 34, p. 86. contained in such Act of March 23, 1906. Sec. 4. After the date, of completion of such bridge, as determinedAcquisition authorized, after completion, by Mississippi, or Louisiana, etc. by the Secretary of War, either the State of Mississippi, the State of Louisiana, any political subdivision of either of such States 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 approaches, and interests in real property necessary therefor, by purchase, or by condemnation in accordance with the law of either of such States governing the acquisition of private property for public purposes by condemnation.
If at any time after the expiration of twenty years after the completion of such bridge it is acquired by condemnation, the amount of damages or compensation to be allowed shall not includeCompensation if acquired by condemnsion. good will, going value, or prospective revenues or profits, but shall be limited to the sum of
(1)the actual cost of constructing suchLimitation. bridge and approaches, less a reasonable deduction for actual depreciation in respect of such bridge and approaches,
(2)the actual cost of acquiring such interests in real property,
(3)actual financing and promotion costs (not. to exceed 10 per centum of the sum of the cost of construction of such bridge and approaches and the acquisition of such interests in real property), and
(4)actual expenditures for necessary improvements. Sec. 5. If such bridge shall be taken over and acquired by theOperation, etc., by State, etc., as toll bridge. States or political subdivisions thereof under the provisions of section 4 of this Act, the same may thereafter be operated as a toll bridge; in fixing the rates of toll to be charged for the use of such bridge, the same shall be so adjusted as to provide as far as possible a sufficient fund to pay for the cost of maintaining, repairing, and operating the, bridge and its approaches, to pay an adequate return on the cost thereof, and to provide a sinking fund sufficient to amortize the amount paid therefor within a period of not to exceed thirty years from the date of acquiring the same. After a sinking fundProvision for free bridge, etc. sufficient to pay the cost of acquiring such bridge and its approaches shall have been provided, the bridge shall thereafter be maintained and operated free of tolls or the rates of toll shall be so adjusted as to provide a fund not to exceed the amount, necessary for the proper care, repair, maintenance, and operation of the bridge and its approaches. An accurate record of the amount paid for acquiringRecord of all expenses, receipts, etc., to be kept. the bridge and its approaches, the expenditures for operating, repairing and maintaining the same, and of the daily tolls collected shall be kept, and shall be available for the information of all persons interested. Sec. 6. The said Vicksburg Bridge and Terminal Company, itsSworn statement of costs, etc., after completion. successors and assigns, shall, within ninety days after the completion of such bridge, file with the Secretary of War a sworn itemized statement showing the actual original cost of constructing such bridge and its approaches, including the actual cost of acquiring interests in real property and actual financing and promotion costs. Within 390 three years after the completion of such bridge the Secretary ofInvestigation, by Secretary of War. War may investigate tire actual cost of such bridge, and for such purposes the said Vicksburg Bridge and Terminal Company, its successors and assigns, shall make available to the Secretary of War all of the records in connection with the financing and constructionFindings of Secretary conclusive. thereof. The findings of the Secretary of War as to such actual original cost shall be conclusive, subject only to review in a court of equity for fraud or gross mistake. Sec. 7. The right to sell, assign, transfer, and mortgage all theRight to sell, etc., conferred, rights, powers, and privileges conferred by this Act is hereby granted to the said Vicksburg Bridge and Terminal Company, its successors or assigns, and any corporation to which such rights, powers, and privileges may be sold, assigned, or transferred, or which shall acquire the same by mortgage foreclosure or otherwise, is hereby authorized and empowered to exercise the same as fully as though conferred herein directly upon such corporation. Sec. 8. The right to alter, amend, or repeal this Act is herebyAmendment. expressly reserved. Approved, May 3, 1926.