Chapter 540. Authorizing the J
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Chap. 540: Authorizing the J. K. Mahone Bridge Company, its successors and assigns, to construct, maintain, and operate a bridge across the Ohio River at or near Wellsburg, West Virginia. Chapter 540 45 Stat. 503 1928-05-14 United States Government Publishing Office text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Digitization Vendor 2025-01-24 70 1 public Chapter 540.— An Act Authorizing the J.
K. Mahone Bridge Company, its successors and assigns, to construct, maintain, and operate a bridge across the Ohio River at or near Wellsburg, West Virginia. May 14, 1928.[[S. 797](/us/bill/70/s/797).][[Public, No. 375](/us/pl/70/375).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That in order to Ohio River.J. K. Mahone Bridge Company may bridge at Wellsburg, W. Va. promote interstate commerce, improve the postal service, and provide for military and other purposes, the J.
K. Mahone Bridge Company, its successors and assigns, be and is hereby authorized to construct, maintain, and operate a bridge and approaches thereto across the Ohio River at a point suitable to the interests of navigation at or near Wellsburg, Brooke County, West Virginia, in accordance Construction.Vol. 34, p. 84.*Post*, p. 1530. 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. There is hereby conferred upon the J. K. Mahone BridgeRight to acquire real estate, etc., for location, approaches, etc. Company, 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 or 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 ofCondemnation proceedings. such State, and the proceedings therefor shall be the same as in the condemnation or expropriation of property in such State.
Sec. 3. The said J. K. Mahone Bridge Company, its successors andTolls authorized. assigns, is hereby authorized to fix and charge tolls for transit over such bridge, and the rates of toll so fixed shall be the legal rates until changed by the Secretary of War under the authority contained inVol. 34, p. 85. the Act of March 23, 1906. Sec. 4. After the completion of such bridge, as determined byAcquisition authorized, after completion, by West Virginia, Ohio, etc. the Secretary of War, either the State of West Virginia, the State of Ohio, any public agency or 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 or take over all right, title, and interest in such bridge and its approaches, and any interest in real property necessary therefor, by purchase or by condemnation or expropriation in accordance with the laws of either of such States governing the acquisition of private property for public purposes by condemnation or expropriation.
IfCompensation if acquired by condemnation. at any time after the expiration of twenty years after the completion of such bridge the same is acquired by condemnation or expropriation, 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, first, the actual cost of constructingLimitations. such bridge and its approaches, less a reasonable deduction for actual depreciation in value; second, the actual cost of acquiring such interests in real property; third, 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 interests in 504real property; and fourth, actual expenditures for necessary improvements.
Sec. 5.Tolls under State, etc., operation. If such bridge shall at any time be taken over or acquired by the States or political subdivisions thereof as provided in section 4 of this Act, and if tolls are thereafter charged for the use thereof, Rates applied to operation, sinking fund, etc.the rates of toll shall be so adjusted as to provide a fund sufficient to pay for the reasonable cost of maintaining, repairing, and operating the bridge and its approaches under economical management, to pay an adequate return on the cost thereof, and to provide a sinking fund sufficient to amortize the amount paid therefor including reasonable interest and financing cost, as soon as possible under reasonable charges, but within a period of not to exceed twenty Maintenance as free bridge, etc., after amortizing costs.years from the date of acquiring the same.
After a sinking fund sufficient for such amortization shall have been so 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 maintenance, and operation of the bridge and its approaches under economical management. Record of expenditures and receipts.An accurate record of the amount paid for acquiring the bridge and its approaches, the actual 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.Sworn statement of construction costs, etc., to be filed after completion. The J. K. Mahone Bridge Company, its successors and assigns, shall within ninety days after the completion of such bridge file with the Secretary of War and with the highway departments of the States of West Virginia and Ohio, 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 costs.
Examination by Secretary of War.The Secretary of War may, and upon request of the highway department of either of such States shall, at any time within three years after the completion of such bridge, investigate such costs and determine the accuracy and the reasonableness of the costs alleged in the statement of cost so filed, and shall make, a finding of the actual and reasonable costs of constructing, financing, and promoting such bridge; and for the purpose of such investigation the said J.
K. Mahone Bridge Company, its successors and assigns, shall make available all of its records in connection with Findings of Secretary conclusive.the construction, financing, and promotion thereof. The findings of the Secretary of War as to the reasonable costs of the construction, financing, and promotion of the bridge shall be conclusive, for the purposes mentioned in section 4 of this Act, subject only to review in a court of equity for fraud or gross mistake. Sec. 7.Right to sell, etc., conferred.
The right to sell, assign, transfer, and mortgage all the rights, powers, and privileges conferred by this Act is hereby granted to the J. K. Mahone Bridge Company, 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. 8.Amendment. The right to alter, amend, or repeal this Act is hereby expressly reserved. Approved, May 14, 1928.
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