Chapter 592. To extend the time for commencing and completing the construction of a bridge across the White River near Augusta, Arkansas
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CHAP. 592.— An Act To extend the time for commencing and completing the construction of a bridge across the White River near Augusta, Arkansas.June 15, 1926. [[H. R. 10942](/us/bill/69/hr/10942).] [[Public, No. 397](/us/pl/69/397).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*,White River.Time extended for bridging, near Augusta, Ark., by R. L. Gaster.Vol. 43, p. 1131, amended. That the times for commencing and completing the construction of the bridge authorized by the Act of Congress approved March 3, 1925, to be built across the White River near Augusta, in the county of Woodruff, in the State of Arkansas, by R.
L. Gaster, his heirs, legal representatives, and assigns, are hereby extended one and three years respectively from the date of approval hereof, 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. After the completion of such bridge, as determined by theAcquisition by Arkansas, etc., authorized, after completion.
Secretary of War, either the State of Arkansas, any political sub-division 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 interests 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 the expirationCompensation if acquired by condemnation. of twenty 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 lie limited to the sum ofLimitation.
(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. 750 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 Arkansas under the provisions of section 2 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 twenty years from the date of acquiring the same. After a sinking fund sufficient toMaintenance as free bridge, etc., after amortization of construction costs, etc. 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 of the amount paid for theRecord of expenditures and receipts. 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. 4. The said R. L. Gaster, his heirs, legal representatives, andSworn statement of construction costs, etc., to be filed after completion. assigns, shall within ninety days after the completion of such bridge tile 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 R. L. Gaster, his heirs, legal representatives, and assigns, shall make available all of its records in connection with the financing and the construction thereof. The findings of the Secretary of War, as to the actual original cost ofFindings of Secretary conclusive. 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 the said R. L. Gaster, his heirs, legal representatives, 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 15, 1926.