Chapter 274. Granting the consent of Congress to the State of Indiana, its successors and assigns, to construct, maintain, and operate a bridge across the Ohio River, and permitting the State of Kentucky to act jointly with the State of Indiana in the construction, maintenance, and operation of said bridge
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CHAP. 274.— An Act Granting the consent of Congress to the State of Indiana, its successors and assigns, to construct, maintain, and operate a bridge across the Ohio River, and permitting the State of Kentucky to act jointly with the State of Indiana in the construction, maintenance, and operation of said bridge.March 2, 1927.[[H. R. 17128](/us/bill/69/hr/17128).][[Public, No. 691](/us/pl/69/691).] *Be it enacted by the Senate and Home of Representatives of the United States of America in Congress assembled*,Ohio River.Indiana may bridge, at Evansville.
That the consent of Congress is hereby granted to the State of Indiana, acting by and through its State highway commission, its successors and assigns, 1338 to construct, maintain, and operate a bridge and approaches thereto across the Ohio River at a point suitable to the interests of navigation between a point in or near the city of Evansville, Indiana, and Construction.Vol. 34, p. 84.a point opposite in Henderson Comity, State of Kentucky, in accordance with the provisions of the 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. Right to acquire real estate, etc., for location, approaches, etc.There is hereby conferred upon the State of Indiana, acting by and through its State highway commission, its successors and assigns, all such rights and powers to enter upon lands and to acquire, condemn, occupy, possess, and use real estate and other property needed for the location, construction, operation, and maintenance of such bridge and its approaches as are possessed by railroad corporations for railroad purposes and by bridge corporations for bridge purposes in the State in which such real estate or other property is situated, upon making just compensation therefor, to be ascertained and paid according to the laws of such State, and the Condemnation proceedings.proceedings therefor shall be the same as in the condemnation or expropriation of property in such State.
Sec. 3. Tolls authorized.The said State of Indiana, acting by and through its State highway commission, its successors and assigns, is hereby authorized to fix and charge tolls for transit over such bridge, and the rates of toll so fixed snail be the legal rates until changed by the Secretary Vol. 34, p. 85.of War under the authority contained in the Act of March 23, 1906. Sec. 4. Rates of toll to provide for operation, sinking fund, etc.In fixing the rates of toll to be charged for the use of such bridge the same 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 cost of such bridge and its approaches as soon as possible under reasonable charges, but within a period Maintenance as free bridge, etc., after amortizing costs.of not to exceed fifteen years from the completion thereof.
After a sinking fund sufficient to pay the cost of constructing the bridge and its 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, repair, Record of expenditures and receipts.maintenance, and operation of the bridge and its approaches. An accurate record of the cost of 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. 5. Kentucky may acquire interest in bridge.At any time before or after the completion of such bridge the State of Kentucky may acquire any such interest in such bridge, including its approaches as a part thereof, as it may elect to acquire, Terms.but not exceeding a one-half interest therein, upon such terms as may be agreed upon between said States; and upon failure to so agree, may acquire such interest by paying to the State of Indiana such sum as shall equal the actual cost of that proportion of such Ceasing of right to take tolls.bridge so acquired by it.
And if at any time said State of Kentucky shall acquire a full one-half interest in such bridge, then the right to take tolls for the use of such bridge shall immediately cease; and said right to take tolls shall also cease if and when the net tolls taken, after deducting the cost of collecting such tolls, shall amount to one-half the actual cost of such bridge plus interest Free bridge thereafter.thereon at the rate of 5 per centum per annum; and thereafter said bridge shall be free and no toll shall be charged for the use thereof.
Sec. 6. Amendment.The right to alter, amend, or repeal this Act is hereby expressly reserved. Approved, March 2, 1927.