Chapter 569. Granting the consent of Congress to Lake Washington Corporation to construct a bridge across Lake Washington, in King County, State of Washington
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CHAP. 569.— An Act Granting the consent of Congress to Lake Washington Corporation to construct a bridge across Lake Washington, in King County, State of Washington.June 12, 1926. [[S. 2959](/us/bill/69/s/2959).] [[Public, No. 381](/us/pl/69/381).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*,Lake Washington.Lake Washington Corporation may bridge, at Seattle, Wash. That the consent of Congress is hereby granted to Lake Washington Corporation, a corporation organized and existing under the laws of the State of Washington, and to its successors and assigns, to construct, maintain, and operate a bridge and approaches thereto across Lake Washington in King County, State of Washington, at a point suitable to the interest of navigation, from the west shore of said Lake Washington at a point within the city of Seattle.
Washington, to the east shore of said lake, in accordance with the provisionsConstruction.Vol. 34, p. 84. of the Act entitled “An Act to regulate construction of bridges over navigable waters,” approved March 23, 1906, subject to the conditions and limitations contained in this Act. Sec. 2. After the completion of such bridge, as determined byAcquisition authorized by Washington, etc., after completion. the Secretary of War, either the State of Washington, any political subdivision thereof 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 its approaches, and any interest in real property necessary therefor, by purchase or condemnation in accordance with the laws of such State governing the acquisition of private property for public purposes by condemnation.
If at any time after theDetermination of compensation if acquired by condemnation expiration of twenty-five years after the completion of such bridge the same 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 sumLimitation. of
(1)the actual cost of constructing such bridge and its approaches, less a reasonable deduction for actual depreciation in value,
(2)the actual cost of acquiring such interests in real property,
(3)actual financing and promotion cost, not to exceed 10 per centum of the sum of the cost of constructing the bridge and its approaches and acquiring such interest in real property, and
(4)actual expenditures for necessary improvements. Sec. 3. If such bridge shall at any time be taken over or acquiredOperation as toll bridge, etc., if acquired by a municipality, etc. by any municipality or other political subdivision or subdivisions of the State of Washington under the provisions of section 3 of this 739Act, 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 twenty years from the date of acquiring the same. After a sinkingMaintenance as free bridge, etc., after amortization of construction costs, etc. fund sufficient to amortize the cost of acquiring the bridge and its approaches shall have been provided, such bridge shall thereafter be maintained and operated free of tolls, or the rates of tolls shall thereafter be so adjusted as to provide a fund of not to exceed the amount necessary for the proper care, repair, maintenance, and operation of the bridge and its approaches. An accurate record ofRecord of expenditures and receipts. the amount paid for the bridge and its approaches, the expenditures for operating, repairing, and maintaining the same, and of daily tolls collected shall he kept and shall be available for the information of all persons interested. Sec. 4. The Lake Washington Corporation, its successors, andSworn statement of construction costs, etc., to be filed after 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 its approaches, the actual cost of acquiring any interest in real property necessary therefor, and the actual financing and promotion cost. The Secretary of War may at any time within three years after theInvestigation by Secretary of War. completion of such bridge investigate the actual cost of constructing the same, and for such purpose the said Lake Washington Corporation, its successors, and assigns shall make available all of its records in connection with the financing and the construction thereof. TheFindings of Secretary conclusive. findings of the Secretary of War, as to the actual original cost of the bridge, shall be conclusive, subject only to review in a court of equity for fraud or gross mistake. Sec. 5. 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 Lake Washington Corporation, its successors, and assigns, and any corporation to which or any person to whom such rights, powers, and privileges may be sold, assigned, or transferred, or who 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 or person. Sec. 6. The right to alter, amend, or repeal this Act is herebyAmendment. expressly reserved. Approved, June 12, 1926.