Chapter 254. Granting the consent of Congress to Des Arc Bridge Company, and its successors and assigns, to construct a bridge across the White River, at Des Arc, Arkansas
956 words·~4 min read·
/statutes-at-large/vol-44/chapter-254-18929916·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CHAP. 254.— An Act Granting the consent of Congress to Des Arc Bridge Company, and its successors and assigns, to construct a bridge across the White River, at Des Arc, Arkansas.May 7, 1926.[[H. R. 7904](/us/bill/69/hr/7904).][[Public, No. 190](/us/pl/69/190).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*,White River.Des Arc Bridge Company may bridge, at Des Arc, Ark. That the consent of Congress is hereby granted to Des Arc Bridge Company and to its successors and assigns to construct, maintain, and operate a bridge and approaches thereto across the White River, at a point suitable to the interests of navigation, between White River and Calhoun Townships, at or near the city of Des Arc, in the county of Prairie, in the State of Arkansas, in accordance with the provisions of theConstruction.Vol. 34, p; 84.
Act entitled “ An Act to regulate the construction of bridges over navigable waters,” approved March 23, 1906, and subject to the conditions and limitations contained in this Act. Sec. 2. The said Des Arc Bridge Company and its successors andTolls authorized. 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 authority contained in such Act of March 23, 1906.
Sec. 3. After the date of completion of such bridge, as determinedArkansas, etc., may acquire, after completion. by the Secretary of War, either the State of Arkansas, any political subdivision thereof within which any part of such bridge is located, or 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 such State governing the acquisition of private property for public purposes by condemnation.
If at any time after the expiration of fifteen years afterCompensation if acquired by condemnation. the completion of such bridge it is acquired by condemnation, the amount of damages or compensation 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 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. 408 Sec. 4. If such bridge shall at any time be taken over or acquiredOperation as toll bridge, by municipality, etc., of Arkansas. by any municipality or other political subdivision or subdivisions of the State of Arkansas under the provisions of section 3 of this Act, and if tolls are charged for the use thereof, the rates of toll shall be so adjusted as to provide a fund sufficient to pay for the cost of maintaining, repairing, and operating the bridge and its approaches, and to provide a sinking fund sufficient to amortize the amount paid for such bridge and its approaches as soon as possible under reasonable charges, but within a period of not to exceed thirty years from the date of acquiring the same. After a sinking fund sufficient to amortize the cost of acquiring the bridge and itsMaintenance, etc., after amortization of costs. approaches shall have been 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 care, maintenance, and operationRecord of expenditures and receipts. of the bridge and its approaches. An accurate record of the amount paid for the bridge and its approaches, the expenditures for operating, repairing, and maintaining the same, and of daily tolls collected shall be kept, and shall be available for the information of all persons interested. Sec. 5. The said Des Arc Bridge Company or its successors andSworn statement of costs to be submit ted at completion. 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 approaches, including the actual cost of acquiring interests in real property and actual financing and promotion costs. Within three years after the completion of such bridge, the Secretary of War may investigateInvestigation by Secretary of War. the actual cost of such bridge, and for such purpose the Des Arc Bridge Company, its successors and assigns, shall make available to the Secretary of War all of its records in connection with the financing and construction thereof. The findings of the SecretaryFindings of Secretary conclusive. 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. 6. The right to sell, assign, transfer, and mortgage all theAuthority to sell, etc. rights, powers, and privileges conferred by this Act is hereby granted to the said Des Arc Bridge 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. 7. The right to alter, amend, or repeal this Act is herebyAmendment. expressly reserved. Approved, May 7, 1926.