Chapter 566. To authorize the Tidewater Toll Properties (Incorporated), its legal representatives and assigns, to construct, maintain, and operate a bridge across the Choptank River at a point at or near Cambridge, Maryland
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CHAP. 566.— An Act To authorize the Tidewater Toll Properties (Incorporated), its legal representatives and assigns, to construct, maintain, and operate a bridge across the Choptank River at a point at or near Cambridge, Maryland. June 21, 1930.[[S. 3421](/us/bill/71/s/3421).][[Public, No. 409](/us/pl/71/409).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Choptank River.Tidewater Toll Properties, Incorporated, may bridge, at Cambridge, Md.
That in order to promote interstate commerce, improve the postal service, and provide for military and other purposes, the Tidewater Toll Properties (Incorporated), a corporation incorporated under the laws of Maryland, its legal representatives and assigns, be, and is hereby, authorized to construct, maintain, and operate a bridge and approaches thereto across the Choptank River at or near Cambridge, Maryland, at Construction.Vol. 34, p. 84.a point suitable to the interests of navigation, 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. 795 Sec. 2.
After the completion of such bridge, as determined Rights, etc., may be acquired by Maryland, etc., after completion.by the Secretary of War, either the State of Maryland, 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 interests in real property necessary therefor, by purchase or condemnation in accordance with the laws of such Purchase or condemnation.State governing the acquisition of private property for public purposes by condemnation.
If at any time after the expiration of twenty years after the completion of such bridge and its approaches Damages allowed If acquired through condemnation.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 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 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 real property; and
(4)actual expenditures for necessary improvements. Sec. 3. If such bridge shall at any time be taken over or acquired Toll charges under State control.by any municipality or other political subdivision or subdivisions of the State of Maryland 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 Maintenance as free bridge thereafter, or tolls adjusted to meet operation, etc., costs.years from the date of acquiring the same. After a sinking 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 toll 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 Record of expenditures and receipts.of the amount paid for the 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 Tidewater Toll Properties (Incorporated), its legal Statement of construction, etc., costs to be filed.representatives and assigns, shall, within ninety days after the completion of such bridge, file with the Secretary of War, and with the highway department of the State of Maryland, a sworn itemized statement snowing the actual original cost of constructing the bridge and its approaches, the actual cost of acquiring any interest in real property necessary therefor, and the actual financing and promotion costs. The Secretary of War may, and at the Investigation thereof, by Secretary of War.request of the highway department of the State of Maryland 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 Tidewater Toll properties (Incorporated), its legal representatives and assigns, shall make available all records in connection with the construction, financing, Records to be available.and promotion thereof. The findings of the Secretary of War as Findings conclusive.to the reasonable costs of the construction, financing, and promotion of the bridge shall be conclusive for the purposes mentioned 796in section 2 of this Act, subject only to review in a court of equity for fraud or gross mistake. Sec. 5.Rights to sell, assign, etc., conferred. The right to sell, assign, transfer, and mortgage all rights, powers, and privileges conferred by this Act is hereby granted to the Tidewater Toll Properties (Incorporated), its 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.Amendment. The right to alter, amend, or repeal this Act is hereby expressly reserved. Approved, June 21, 1930.