Chapter 334. Granting the consent of Congress to the State Highway Commission of Arkansas to construct, maintain, and operate a toll bridge across the White River at or near Calico Rock, Arkansas
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CHAP. 334.— An Act Granting the consent of Congress to the State Highway Commission of Arkansas to construct, maintain, and operate a toll bridge across the White River at or near Calico Rock, Arkansas. May 26, 1930.[[H. R. 10340](/us/bill/71/hr/10340).][[Public, No. 265](/us/pl/71/265).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, White River.Arkansas may bridge, at Calico Rock. That the consent of Congress is hereby granted to the State Highway Commission of Arkansas to construct, maintain, and operate a bridge and approaches thereto across the White River, at a point suitable to the interestsConstruction.Vol. 34, p. 84. of navigation, at or near Calico Rock, Arkansas, in accordance with the provisions of an 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. Tolls under State, etc., operation. If tolls are charged for the use of such bridge, the rates of toll shall be so adjusted as to provide a fund sufficient
(1)to pay the reasonable cost of maintaining, repairing, and operating the bridge and its approaches;
(2)the interest on borrowed money necessarily required and financing charges necessarily incurred in connection with the construction of the bridge and its approaches;Application of revenues. and
(3)to provide a sinking fund sufficient to retire the bonds issued and sold in connection with such original construction. All revenues received from the bridge shall be applied to the foregoing purposes, and no bonds issued in connection with the construction of the bridge and its approaches shall be made to mature later than twenty years after the date of issue thereof. Maintenance as free bridge, etc., after amortizing costs.After a fund sufficient to retire such bonds in accordance with their provisions shall have been so provided, the bridge shall thereafter be maintained and operated as a free highway bridge uponStatement of confitruction costs, etc., to be kept. which no tolls shall be charged. An accurate and itemized record of the original cost of the bridge and its approaches, the expenditures for maintaining, repairing, and operating the same, the interest charges paid, and the tolls charged and the daily revenues received from the bridge, shall be kept by the Arkansas State Highway Commission, and shall be available at all reasonable times for the information of all persons interested. Sec. 3. Amendment. The right to alter, amend, or repeal this Act is hereby expressly reserved. Approved, May 26, 1930.