Chapter 755. To authorize the Tidewater Toll Properties (Incorporated), its legal representatives and assigns, to construct, maintain, and operate a bridge across the Patuxent River, south of Burch, Calvert County, Maryland June 30, 1930.[[S. 3422](/us/bill/71/s/3422).][[Pubilc, No. 475](/us/pl/71/475).] *Be it
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CHAP. 755.— An Act To authorize the Tidewater Toll Properties (Incorporated), its legal representatives and assigns, to construct, maintain, and operate a bridge across the Patuxent River, south of Burch, Calvert County, Maryland June 30, 1930.[[S. 3422](/us/bill/71/s/3422).][[Pubilc, No. 475](/us/pl/71/475).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Patuxent River.Tidewater Toll Properties may bridge, at Hallowing Point, 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 Patuxent River, at a point suitable to the interests of navigation, at or near Hallowing Point, approximately one-eighth mile south of Burch, Calvert County, Maryland, in accordance withConstruction.Vol. 34, p. 84. 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. Upon completion, Maryland, etc., may acquire all rights, etc. After the completion of such bridge, as determined 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 interest in real property necessary therefor, by purchase or by condemnation or expropriation, in accordance with the laws of such State governing the acquisition of private property for public purposes by condemnation or expropriation.Damages, etc., allowed if acquired by condemnation proceedings, etc.
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 value, or prospective revenues or profits,Cost of construction, etc. but shall be limited to the sum of
(1)the actual cost of constructing such bridge and its approaches, less a reasonable deduction for actual833 depreciation in value;
(2)the actual cost of acquiring such interestsOf interests in real property.Financing, etc., costs. 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;Expenditures for improvements. 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, applied tomaintenauce, sinking fund, etc. by the State of Maryland, or by any municipality or other political subdivision or public agency thereof, under the provisions of 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 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 twenty years from date of acquiring the same. After a sinking fundMaintenance as free bridge when cost amortized. sufficient for such amortization shall have been so provided, such bridge shall thereafter be maintained and operated free of tolls, or the rates of tolls shall thereafter be so adjusted as to provide a fundTolls adjusted to provide fund for maintenance, authorized. 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 record of the amount paid forRecord of expenditures and receipts. 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. The Tidewater Toll Properties (Incorporated), its legalStatement of costs to be filed with Secretary of War. representatives, and assigns, shall, within ninety days after the com pletion of such bridge, file with the Secretary of War and with the Highway Department of the State of Maryland, a sworn itemized statement showing the actual original cost or 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 request of the HighwayInvestigation of. 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 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 saidRecords to be available. Tidewater Toll Properties (Incorporated), its legal representatives, and assigns, shall make available all of its records in connection with the construction, financing, and promotion thereof. The findings ofFindings conclusive. 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. The right to sell, assign, transfer, and mortgage all theRight to sell, assign, etc., conferred. 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. All contracts made in connection with the construction ofCompetitive bidding for construction contracts exceeding $5,000.Advertising. the bridge authorized by this Act and which shall involve the expenditure of more than $5,000 shall be let by competitive bidding. Such834 contracts shall be advertised for a reasonable time in some newspaper of general circulation published in the State in which theSealed bids. bridge is located and in the vicinity thereof; sealed bids shall be required, and the contracts shall be awarded to the lowest responsibleCopies to State highway department. bidder. Verified copies or abstracts of all bids received and of the bid or bids accepted shall be promptly furnished to the highway department of the State in which such bridge is located. AProvision herein void, if good faith lacking. failure 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. 7. Amendment. The right to alter, amend, or repeal this Act is hereby expressly reserved. Approved, June 30, 1930.