Chapter 582. Authorizing the Monongahela Bridge Company, its successors and assigns, to construct, maintain, and operate a bridge across the Monongahela River at or near the town of Star City, West Virginia
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CHAP. 582.— An Act Authorizing the Monongahela Bridge Company, its successors and assigns, to construct, maintain, and operate a bridge across the Monongahela River at or near the town of Star City, West Virginia. June 23, 1930.[[H. R. 11934](/us/bill/71/hr/11934).][[Public, No. 422](/us/pl/71/422).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That in orderMonongahela River.Monongahela Bridge Company may bridge, at Star City, W.
Va. to promote interstate commerce, improve the postal service, and provide for military and other purposes, the Monongahela Bridge Company, its successors and assigns, be, and is hereby, authorized, subject*Post*, p. 1527. to the approval of the State Bridge Commission of West Virginia, to construct, maintain, and operate a bridge and approaches thereto across the Monongahela River, at a point suitable to the interests of navigation, at or near the town of Star City, West Virginia,Construction.Vol. 34, p. 84. 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 theRight of West Virginia, etc., to acquire. Secretary of War, either the State of West Virginia, 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 interest in real property necessary therefor, by purchase or by condemnation or expropriation,By purchase, condemnation, etc. in accordance with the laws of such State governing the acquisition of private property for public purposes by condemnation or expropriation.
If at any time after the expiration of ten years afterCompensation if acquired by condemnation. 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
(1)the actualLimitations. 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 interests in real property; and
(4)actual expenditures for necessary improvements. Sec. 3. If such bridge shall at any time be taken over or acquiredTolls, under State, etc., operation. by the State of West Virginia or by any municipality or public agency or other political subdivision thereof, under the provisions or section 2 of this Act, and if tolls are thereafter charged for the use thereof, the rates of toll shall be so adjusted as to provide aRates applied to operation, sinking fund, etc. 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 twenty years from the date of acquiring 804Maintenance as free bridge after amortizing costs. 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, repair, and operation of the bridge and Record of expenditures and receipts.its approaches under economical 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. Sec. 4. Statement of construction, etc., costs to be filed after completion. The said Monongahela 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 department of the State of West Virginia, 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 necessary therefor, and the actual financing and promotion costs. Investigation thereof by Secretary of War.The Secretary of War may, and at the request of the Highway Department of the State of West Virginia, shall, at any time within three years after the completion of such bridge, investigate such costs and determine the accuracy and the reasonableness or 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 Records to be available.said Monongahela Bridge Company, its successors and assigns, shall make available all of its records in connection with the Findings conclusive.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 2 of this Act, subject only to review in a court of equity for fraud or gross mistake. Sec. 5. 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 Monongahela 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. 6. Amendment. The right to alter, amend, or repeal this Act is hereby expressly reserved. Approved, June 23, 1930.