Chapter 543. Authorizing J
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Chap. 543: Authorizing J. T. Burnett, his heirs, legal representatives, and assigns, to construct, maintain, and operate a bridge across the Mississippi River at or near Tiptonville, Tennessee. Chapter 543 45 Stat. 507 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 543.— An Act Authorizing J.
T. Burnett, his heirs, legal representatives, and assigns, to construct, maintain, and operate a bridge across the Mississippi River at or near Tiptonville, Tennessee. May 14, 1928.[[S. 3862](/us/bill/70/s/3862).][[Public, No. 378](/us/pl/70/378).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That in order to Mississippi River.J. T. Burnett may bridge, at Tiptonville, Tenn. facilitate interstate commerce, improve the postal service, and provide for military and other purposes, J.
T. Burnett, his heirs, legal representatives, and assigns, be, and is hereby, authorized to construct, maintain, and operate a bridge and approaches thereto across the Mississippi River, at a point suitable to the interests of navigation, at or near Tiptonville, Tennessee, in accordance with the provisions Construction.Vol. 34, p. 84.*Post*, p. 1451. of the Act entitled “An Act to regulate the construction of bridged over navigable waters,” approved March 23, 1906, and subject to the conditions and limitations contained in this Act. 508 Sec. 2.Right to acquire real estate, etc., for location, approaches, etc.
There is hereby conferred upon J. T. Burnett, his heirs, legal representatives, 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 property is situated, upon making just compensation therefor, Condemnation proceedings. to be ascertained and paid according to the laws of such State, and the proceedings therefor shall be the same as in the condemnation or expropriation of property for public purposes in such State.
Sec. 3.Tolls authorized. The said J. T. Burnett, his heirs, legal representatives, and 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 in Vol. 34, p. 85. the Act of March 23, 1906. Sec. 4.Acquisition authorized, after completion, by Tennessee, Missouri, etc. After the completion of such bridge, as determined by the Secretary of War, either the State of Tennessee, the State of Missouri, 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 and take over all right, title, and interest in such bridge and its approaches and any interest in any 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 Compensation if acquired by condemnation. property for public purposes by condemnation or expropriation.
If at any time after the expiration of fifteen 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, Limitations. but shall be limited to the sum 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 costs, 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. 5.Tolls under State, etc., operation. If such bridge shall be taken over or acquired by the States or public agencies or political subdivisions thereof, or by either of them, as provided in section 4 of this Act, and if tolls are Rates applied to operation, sinking fund, etc. thereafter charged for the use thereof, 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, 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 fifteen years Maintenance as free bridge, etc., after amortizing costs, etc. from the date of acquiring the same. After a sinking fund sufficient for such amortization 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 maintenance, repair, and operation of the bridge and its approaches under economical Record of expenditures and receipts. management. An accurate record of the amount paid for acquiring the bridge and its approaches, the actual expenditures for maintaining, repairing, and operating the same, and of the daily tolls collected, shall be kept and shall be available for the information of all persons interested. 509 Sec. 6. J. T. Burnett, his heirs, legal representatives, and assigns, Sworn statement of construction costs, etc., to be filed after completion. 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 Tennessee and Missouri, a sworn itemized statement showing the actual original cost of constructing the bridge and its approaches, the actual cost of acquiring any interest in real property therefor, and the actual financing and promotion costs. The Examination by Secretary of War. 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 costs so filed, and shall make a finding of the actual and reasonable costs of constructing, financing, and promoting such bridge; for the purpose of such investigation the said J. T. Burnett, his heirs, legal representatives, and assigns, shall make available all of his records in connection with the construction, financing, and promotion thereof. The findings of the Secretary of War as to the Findings of Secretary conclusive. 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. The right to sell, assign, transfer, and mortgage all the Right to sell, etc. conferred. rights, powers, and privileges conferred by this Act is hereby granted to J. T. Burnett, 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. 8. The right to alter, amend, or repeal this Act is hereby Amendment. expressly reserved. Approved, May 14, 1928.
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