SEVENTIETH CONGRESS . SEss. I. CHs. 762, 763. 1928 .
755 collected, and the sinking fund on hand shall be kept and shall be avail able fo r the informa tion of all p ersons interes ted . SEC . 3. The right to alter, amend, or repeal this Act is hereby expressly reserved . Appro ved, M ay 26, 1928 . Amend ment. May 26, 1928 . CHAP . 763.-An Act Authorizing T . S . Hassell, his heirs, legal representa- [H . R. 13141 .1 tives, and assigns, to construct, maintain, and operate a bridge across the Tennes- [Public, No . 527 .] see River at o r near Clifton, Wayn e County, Tennessee . Be it enacted by the Senate and House o f Representatives o f the Tennessee River . United States o f America in Congress assembled, Tha t in order to T. S. Hassell may promote interstate commerce, improve the postal service, and provide bridge, at Clifton, for military and other purposes, T . S . Hassell, his heirs, legal repre- sentatives, and assigns, be, and is hereby, authorized to construct, maintain, and operate a bridge and approaches thereto across the Tennessee River, at a point suitable to the interests of navigation, at or near Clifton, Wayne County, Tennessee, in accordance with Const ruction . th e pr ovis ions of the Act enti tled "An Act to regu late the con stru c- Vol.34,p. 84. tion 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 the ized, after Acquisition ic completion, suth- Secretary of War, either the State of Tennessee, any political sub- by Tennessee, etc. division 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 by condemnation or expropriation in accordance with the laws of such State
the acquisition Co ndemnation pro- a cco rda nce
gover ning
ceedings . of private property for public purposes by condemnation or expropriation . If at any time after the expiration of twenty years Co mpensation i f ac . quired by condemna- after the completion of such bridge the same is acquired by con- tion . demnation or expropriation, the amount of damages or compen- sation to be allowed shall not include good will, going value, or prospective revenues or profits, but shall be limited to the sum of L imita tion s. (1) the actu al c ost of c onst ruct ing such bri dge and its appr oach es, 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 constructi ng the bridge and its appro aches and a cqui ring suc h in tere sts in r eal prop erty ; and (4) actu al expendi- tures for necessary improvements .
T olls unde r St ate, SEC . 3 . If such bridge shall at any time be taken over or acquired ,to., o peration. b y the State of Tennessee or any municipality or political sub- division or subdivisions thereof under the provisions of section 2 of this Act, and if tolls are thereafter charged for the use thereof, Rates applied to the rates of toll shall be so adjusted as to provide a fund sufficient operation, sinking to pay for the reasonable cost of maintaining, repairing, and operat- fund, etc. ing 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 Maintenance as free exceed twenty years from the date of acquiring same . After a bridge, etc .,after amor sinking fund sufficient for such amortization shall have been so tizing costs . provided, such bridge shall thereafter b e maintained a nd operated free of tolls, or the rates of tolls 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
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