Chapter 75. Authorizing the Sycamore Bridge Company, its successors and assigns, to construct, maintain, and operate a bridge across the Wabash River at or near Fleshers Ferry, Indiana
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CHAP. 75.— An Act Authorizing the Sycamore Bridge Company, its successors and assigns, to construct, maintain, and operate a bridge across the Wabash River at or near Fleshers Ferry, Indiana. January 31, 1931.[[H. R. 5661](/us/bill/71/hr/5661).][[Public, No. 588](/us/pl/71/588).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Wabash River.Sycamore Bridge Company may bridge, at Fleshers Ferry, Ind. That in order to promote interstate commerce, improve the postal service, and provide for military and other purposes, the Sycamore Bridge Company, its successors and assigns, be, and is hereby, authorized to construct, maintain, and operate a bridge and approaches thereto across the Wabash River, at a point suitable to the interests of navigation, at or near Fleshers Ferry, Indiana, in accordance with the provisions Construction.Vol. 34, p. 84.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. Right to acquire real estate, etc., for location, approaches, etc. There is hereby conferred upon the Sycamore Bridge 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 Condemnation proceedings.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 Sycamore Bridge Company, its successors 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 Vol. 34, p. 85.until changed by the Secretary of War under the authority contained in the Act of March 23, 1906. Sec. 4. Acquisition authorized, after completion, by Indiana, Illinois, etc. After the completion of such bridge, as determined by the Secretary of War, either the States of Indiana or Illinois, any public agency or 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 in accordance with the laws of either of such States governing the acquisition of private property for public purposes Compensation, if acquired by condemnation.by condemnation or expropriation.
If at any time after the expiration of five 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 Limitation.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 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. 5. Tolls under State, etc., operation. If such bridge shall at any time be taken over or acquired by the States of Indiana or Illinois, or by any municipality or other political subdivision or public agency thereof, under the provisions of section 4 of this Act, and if tolls are thereafter charged for the Rates applied to operation, sinking fund, etc.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 1051 amount paid therefor, including reasonable interest and financing costs, as soon as possible under reasonable charges, but within a period of not to exceed fifteen years from the date of acquiring the same. After a sinking fund sufficient for such amortization shallMaintenance, as a free bridge, etc., after amortizing costs. have been so provided, such bridge shall thereafter be maintained and operated tree 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 management. An accurate recordRecord of expenses and receipts. 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. 6. The Sycamore Bridge Company, its successors and assigns,Sworn statement of construction costs, etc., to be filed on 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 Indiana and Illinois 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. The SecretaryExamination by Secretary of War. of War may, and at the request of the highway departments 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 Sycamore Bridge Company, its successors and assigns, shall make available all of its records in connection with the construction, financing, and promotion thereof. The findings of the Secretary of War as to the reasonableFindings of Secretary conclusive. costs of the construction, financing, and promotion of the bridge shall be conclusive for the purposes mentioned in section 4 of this*Ante*, p. 1050. 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 theRight to sell, etc., conferred. rights, powers, and privileges conferred by this Act is hereby granted to the Sycamore 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 persons. Sec. 8. All contracts made in connection with the construction ofConstruction contracts by competitive bidding. the bridge authorized by this Act and which shall involve the expenditure of more than $5,000 shall be let by competitive bidding. Such contracts shall be advertised for a reasonable time in some newspaperAdvertisements, etc. of general circulation published in the States in which the bridge is located and in the vicinity thereof; sealed bids shall be required and the contracts shall be awarded to the lowest responsible bidder. Verified copies or abstracts of all bids received and of the bid or bids accepted shall be promptly furnished to the highway departments of the States in which such bridge is located. A failureContracts void in violation. to comply in good faith with the provisions of this section shall render null and void any contract made in violation thereof, and the Secretary of War may, after hearings, order the suspension of all work upon such bridge until the provisions of this section shall have been fully complied with. Sec. 9. The right to alter, amend, or repeal this Act is herebyAmendment. expressly reserved. Approved, January 31, 1931.