Public Law 69–256

That the consent of Congress is hereby granted to the Weirton Bridge and Development Company, its successors and assigns, to construct, maintain, and operate a toll bridge and approaches thereto across the Ohio River at a point suitable to the interests of navigation between a point near the north city limits of Steubenville, Ohio, and a point opposite near Weirton, West Virginia, in accordance with the

Construction.

Vol. 34, p. 84.

provisions of the Act entitled “An Act to regulate the construction of bridges over navigable waters,” approved March 13, 1906, and subject to the conditions and limitations contained in this Act.

Sec. 2.

There is hereby conferred upon the Weirton Bridge and

Right to acquire real estate, etc., for approaches, etc.

Development 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 land or 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 may be had in any court of competent jurisdiction in such State.

Sec. 3.

The said Weirton Bridge and Development Company, its

Tolls authorized.

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 until changed by the Secretary of War under the authority contained in the Act of March 23, 1906.

Sec. 4.

After the completion of such bridge the State of Ohio or

Ohio or West Virginia may acquire, after completion.

Post, p. 1236.

the State of West Virginia, or any political subdivision or subdivisions thereof within or adjoining which such bridge is located, may at any time jointly or severally acquire and take over all right, title, and interest in such bridge and its approaches, and any interest in real estate necessary therefor, by purchase or by condemnation in accordance with the laws of either of such States governing the

Compensation if acquired by condemnation.

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 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

Limitation.

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 all other cost of constructing the bridge and its approaches and acquiring such interest in real property, and (4) actual expenditures for necessary improvements.

Sec. 5.

If such bridge shall at any time be taken over or acquired

Operation by State, etc., as toll bridge.

as provided in section 4 of this Act and if tolls are charged for the use thereof, in fixing the rates of toll to be charged the same shall be so adjusted as to provide as far as possible a sufficient fund 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 within a period of not to exceed twenty years from the date of acquiring the same. After a sinking fund sufficient to pay the cost of acquiring the bridge

Maintenance after amortization of costs.

and its approaches, and any interest that shall accrue on money borrowed for that purpose, shall have been provided, such bridge shall thereafter be maintained and operated free of tolls, or the rates of toll shall be so adjusted as to provide a fund of not to exceed the amount necessary for the proper care, maintenance, and operation of the bridge and its approaches. An accurate record of the amount

Record of expenditures and receipts.

paid for acquiring the bridge and its approaches, the expenditures for operating, repairing, and maintaining 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 Weirton Bridge and Development Company, its successors

Sworn statement of costs to be submitted after completion.

and assigns, shall immediately after the completion of such bridge file with the Secretary of War a sworn itemized statement showing the actual original cost of constructing such bridge and its approaches, the actual cost of acquiring any interest in real estate necessary therefor, and the actual financing and promotion cost. The Secretary of War may, at any time within three years after the completion of such bridge, investigate the cost of constructing the

Investigation by Secretary of War.

same, and for such purpose the said Weirton Bridge and Development Company, its successors and assigns, shall make available all of its records in connection with the financing and the construction thereof. The findings of the Secretary of War as to the cost of the

Findings of Secretary conclusive.

bridge shall be conclusive, subject to review in a court of equity for fraud or gross mistake.

Sec. 7.

The right to sell, assign, transfer, and mortgage all the

Authority to soil, Etc., conferred.

rights, powers, and privileges conferred by this Act is hereby granted to the Weirton Bridge and Development 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. 8.

The right to alter, amend, or repeal this Act is hereby

Amendment.

expressly reserved.