is hereby authorized and empowered to exercise the same as fully as though conferred herein directly upon such corporation or person.

SEC. 9. The right to alter, amend, or repeal this Act is hereby expressly reserved. Approved, May 24, 1928.

[PUBLIC NO. 503-74тH CONGRESS]

(H. R. 10187]

AN ACT To extend the times for commencing and completing the construction of a bridge across the Missouri River at or near Randolph, Missouri

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the times for commencing and completing the construction of the bridge across the Missouri River, at or near Randolph Missouri, authorized to be built by The Kansas City Southern Railway Company, its successors and assigns, by an Act of Congress approved May 24, 1928, heretofore extended by Acts of Congress approved March 1, 1929, May 14, 1930, February 6, 1931, May 6, 1932, January 19, 1933, and April 9, 1934, are hereby further extended two and four years, respectively, from May 24, 1936.

SEC. 2. The right to alter, amend, or repeal this Act is hereby expressly reserved. Approved, April 10, 1936.

О

75TH CONGRESS HOUSE OF REPRESENTATIVES 3d Session

REPORT No. 2266

EXTENDING TIMES FOR COMMENCING AND COMPLETING CONSTRUCTION OF BRIDGE OVER LAKE SABINE AT OR NEAR PORT ARTHUR, TEX.

MAY 3, 1938.-Referred to the House Calendar and ordered to be printed

Mr. MALONEY, from the Committee on Interstate and Foreign Commerce, submitted the following

REPORT

[To accompany H. R. 9975]

The Committee on Interstate and Foreign Commerce, to whom was referred the bill (H. R. 9975) to extend the times for commencing and completing the construction of a bridge over Lake Sabine at or near Port Arthur, Tex., having considered and amended the same, report thereon with a recommendation that it pass.

Amend the bill as follows:

Page 1, line 6, after the word "Bridge" strike out the word "Authority" and insert the word "Commission".

The bill has the approval of the War and Agriculture Departments, as will appear by the letters attached.

[Second endorsement]

WAR DEPARTMENT, March 31, 1938. Respectfully returned to the chairman, Committee on Interstate and Foreign Commerce, House of Representatives.

So far as the interests committed to this Department are concerned, I know of no objection to the favorable consideration of the accompanying bill, H. R. 9975, Seventy-fifth Congress, first session, to extend the times for commencing and completing the construction of a bridge over Lake Sabine at or near Port Arthur, Tex., if amended as indicated in red thereon.

LOUIS JOHNSON, Acting Secretary of War.

DEPARTMENT OF AGRICULTURE,

Hon. CLARENCE F. LEA,

Washington, April 9, 1938.

Chairman, Committee on Interstate and Foreign Commerce,

House of Representatives.

DEAR MR. LEA: Careful consideration has been given to the bill H. R. 9975, transmitted with your letter of March 23 with request for a report thereon and such views relative thereto as the Department might desire to communicate.

This bill would extend for 1 and 3 years, respectively, from August 12, 1938, the times for commencing and completing the construction of the bridge across Lake Sabine, at or near Port Arthur, Tex., authorized to be built by the city of Port Arthur or the Port Arthur Bridge Authority and its successors by act of Congress approved June 18, 1934.

The bill is without objection so far as this Department is concerned.

Sincerely,

M. L. WILSON, Acting Secretary.

[PUBLIC-No. 403-73D CONGRESS]

[H. R. 9526]

AN ACT Authorizing the city of Port Arthur, Texas, or the commission hereby created and its successors to construct, maintain, and operate a bridge over Lake Sabine, at or near Port Arthur, Texas

Be it enacted by the Seante and House of Representatives of the United States of America in Congress assembled, That in order to promote interstate commerce, improve the postal service, and provide for military and other purposes, the city of Port Authur, Texas, or the Port Arthur Bridge Commission (hereinafter called the "Commission") hereby created, and its successors be, and is hereby, authorized to construct, maintain, and operate a bridge and approaches thereto across Lake Sabine, at a point suitable to the interests of navigation, between a point at or near Port Arthur, Texas, and a point opposite in Cameron Parish, Louisiana, in accordance with the provisions of an Act entitled "An Act to regulate the construction of bridges over navigable waters," approved March 23, 1906, and subject to conditions and limitations contained in this Act.

SEC. 2. There is hereby conferred upon the city of Port Arthur, Texas, or the Commission hereby created and its successors, 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, maintenance, and operation 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 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. The said city of Port Arthur, Texas, or the Commission hereby created and its successors, 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. In fixing the rates of toll to be charged for the use of such bridge the same 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 cost of such bridge and its approaches, 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 completion thereof. 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 hereafter 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 record of the cost of the bridge and its approaches, the 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. 5. There is hereby created a body corporate and politic to be known as the "Port Arthur Bridge Commission," which shall consist of five members approved by the mayor of Port Arthur subject to the approval of a majority of the city commission.

SEC. 6. The Commission shall consist of five members appointed by the mayor of Port Arthur, and shall be a body politic and corporate constituting a publicbenefit corporation and shall be deemed a public body within the meaning of the National Industrial Recovery Act. The Commission shall elect a chairman from its members and may establish rules and regulations for the government of its own business. Each member shall serve for a term of five years and until his successor has been appointed and has qualified, except that the initial terms of the members shall be respectively one, two, three, four, and five years. The initial term of the member elected chairman shall be five years, and the Commission shall determine by lot the initial terms of the other members. The mayor of Port Arthur, with the approval of a majority of the city commission, may appoint a successor to hold office for the unexpired term of any member in whose office a vacancy shall occur by death, resignation, or otherwise. Each member shall qualify by giving such bond as may be fixed by the governing body of the city of Port Arthur conditioned for the faithful performance of all duties required by this Act. Three members shall constitute a quorum for the transaction of business. No member shall receive a salary for his services as member, but each member shall be paid his actual expenses not exceeding $5 per day in the performance of his duties hereunder. Members of the Commission may be removed for cause by the mayor of Port Arthur and the majority of the city commission. The Commission may employ a secretary, treasurer, engineers, attorneys, and such other experts, assistants, and employees as it may deem necessary, who shall be entitled to receive such compensation as the Commission may determine. All salaries and expenses shall be paid solely from the funds provided under the authority of this Act.

SEC. 7. The Commission shall have all the powers and authority necessary or convenient for the carrying out of the purposes of this Act, including (but without limitation) the following rights, powers, and authority:

(a) To have perpetual succession as a corporation;

(b) To sue and be sued, implead and be impleaded, complain and defend in all courts of law and equity;

(c) To adopt, use, and alter a corporate seal;

(d) To acquire, purchase, hold, use, lease, mortgage, sell, transfer, and dispose of any property, real, personal, or mixed, tangible or intangible, or any interest therein;

(e) To make bylaws for the management and regulation of its affairs;

(f) To appoint officers, agents, employees, and servants, to prescribe their duties and to fix their compensation;

(g) To fix, alter, charge, and collect tolls and other charges for transit over and use of such bridge;

(h) To borrow money, make and issue negotiable notes, bonds, and other evidences of indebtedness of the Commission, and to secure the payment of such obligations or any thereof by mortgage, lien, pledge or deed of trust upon all or any of the property of the Commission, and to make agreements with the purchasers or holders of such obligations, or with others in connection with any such obligations, issued or to be issued, as the Commission shall deem advisable, and in general to provide for the security for said obligations and the rights of the holders thereof;

(i) To make contracts of every kind and nature and to execute all instruments necessary or convenient for the carrying on of its affairs; and

(j) Without limitation of the foregoing, to borrow money from the United States Government or any corporation or agency created, designated, or established by the United States and to enter into contracts with the United States or such corporation or agency.

SEC. 8. Without limiting any powers anywhere in this Act granted to the Commission, the Commission is hereby authorized to provide for the payment of the cost of the bridge and its approaches and the necessary land, easements and appurtenances thereto by an issue or issues of negotiable bonds of the Commission and to secure the payment of all or any such bonds by mortgage, lien, pledge, or deed of trust upon all or any of its property. Said bonds shall be authorized by resolution of the Commission and shall bear such date or dates, be in such forms and contain such provisions as the Commission may determine and as may be provided in such resolution or in the mortgage or deed of trust or other instrument securing said bonds. Any resolution or resolutions authorizing such bonds may contain provisions, which shall be part of the contract with the holders of such bonds, as to (a) the rates of tolls and other charges to be charged by the Commission for transit over or use of the bridge, (b) the registration of the bonds

as to principal only or as to principal and interest, and the interchangeability and exchangeability of such bonds, (c) the issuance of temporary bonds or interim receipts pending the preparation of definitive bonds, and the terms and provisions of such temporary bonds or interim receipts, (d) the redemption of the bonds, and the price or prices, not exceeding 105 and accrued interest, at which they shall be redeemable, (e) the setting aside of reserves or sinking funds and the regulation and disposition thereof, (f) limitations upon the issuance of additional bonds, (g) the terms and provisions of any mortgage, deed of trust, or other instrument under which the bonds may be issued or by which they may be secured, and (h) any other or additional agreement, with the holders of such bonds. The bonds shall be signed by such officers as the Commission shall determine, and coupon bonds shall have attached thereto interest coupons bearing the facsimile signature of the treasurer or other corresponding officer of the Commission. Any such bonds may be issued and delivered, notwithstanding the fact that one or more of the officers signing such bonds, or the treasurer or corresponding officer whose facsimile signature shall be upon the coupons or any thereof, shall have ceased to be such officer or officers at the time when such bonds shall actually be delivered. The Commission may enter into any mortgages, deeds of trust, indentures, or other agreements with any bank or trust company or other person or persons in the United States having power to enter into the same, including the United States Government or any corporation or agency designated or created by it, as security for the bonds, and may transfer, convey, mortgage, or pledge all or any of the property of the Commission thereunder. Such mortgage, deed of trust, indenture, or other agreement may contain such provisions as may be customary in such instruments or as the Commission may authorize, including (but without limitation) provisions as to (a) the terms and provisions of the bonds or the resolution providing for the issuance of the same, (b) the construction, operation, maintenance, repair, and insurance of the properties of the Commission and the duties of the Commission with reference thereto, (c) the application of funds and the safeguarding of funds on hand or on deposit, (d) the rights and remedies of such trustee and the holders of the bonds (which may include restrictions upon the individual right of action of bondholders), and (e) possession of the properties covered by such mortgage, deed of trust, indenture, or other agreement.

The bonds of the Commission may be sold in such manner, at such time or times, and at such price or prices as the Commission may determine, but no such sale shall be made at a price which would make the interest cost to maturity on the money received therefor, computed with relation to the absolute maturity of the bonds in accordance with standard tables of bond values, exceed 6 per centum per annum. The cost of the bridge shall be deemed to include interest during construction of the bridge, and for not exceeding twelve months thereafter, and all engineering, legal, architectural, traffic-surveying, and other expenses incident to the construction of the bridge and the acquisition of the necessary property, and incident to the financing thereof, including the cost of acquiring existing franchises, rights, plans, and works of and relating to the bridge, now owned by any person, firm, or corporation, and the cost of purchasing all or any part of the shares of stock of any such corporate owner if, in the judgment of the Commission, such purchases should be found expedient. If the proceeds of the bonds issued shall exceed the cost as finally determined, the excess shall be placed in the sinking fund hereinafter provided.

SEC. 9. After payment of the bonds and interest and discharge of any other obligations of the Commission, or after a sinking fund sufficient for such payment and discharge shall have been provided and shall be held for that purpose, the Commission shall be authorized to deliver deeds or other suitable instruments of conveyance of the interest of the Commission in and to the bridge, that part within the State of Texas to the State of Texas or any municipality thereof or any agency of said State or any such municipality as may be authorized by or pursuant to law to accept the same (hereinafter referred to as the "Texas interests") and that part within the State of Louisiana to the State of Louisiana or to any municipality thereof or any agency of said State or any such municipality as may be authorized by or pursuant to law to accept the same (hereinafter referred to as the "Louisiana interests'), under the condition that the bridge shall thereafter be free of tolls and be properly maintained, operated, insured, and repaired by the Texas interests and the Louisiana interests, as may be agreed upon; but if either the Texas interests or the Louisiana interests shall not be authorized to accept or shall not accept the same under such conditions, the Commission may transfer the bridge to either of said interests which shall so accept the same and if neither interest shall so accept the same, then the bridge shall