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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 continue to be owned, maintained, operated, insured, and repaired by the Commission, and the rates of tolls shall be so adjusted as to provide a fund not to exceed the amount necessary for the proper maintenance, repair, insurance, and operation of the bridge and its approaches under economical management, including reasonable reserves, until such time as the Texas interests or the Louisiana interests, or both, shall be authorized to accept and shall accept such conveyance under the conditions aforesaid.

Sec. 10. Nothing herein contained shall be construed to authorize or permit the Commission or any member thereof to create any obligation or incur any liability other than such obligations and liabilities as are dischargeable solely from funds provided by this Act. No obligation created or liability incurred pursuant to this Act shall be an obligation or liability of any member or members of the Commission, but shall be chargeable solely to the funds herein provided, nor shall any indebtedness created pursuant to this Act be an indebtedness of the United States,

SEC. 11. All provisions of this Act may be enforced, or the violation thereof prevented, by mandamus, injunction, or other appropriate remedy brought by the attorney general for the State of Texas, or by the attorney general for the State of Louisiana, or by the United States district attorney for the district in which the bridge may be located, in part, in any court having competent jurisdiction of the subject matter and of the parties.

Sec. 12. The right to alter, amend, or repeal this Act is hereby expressly reserved.

Approved, June 18, 1934.

[PUBLIC—No. 502—74TH CONGRESS)

(H. R. 10185) AN ACT To amend the Act approved June 18, 1934, authorizing the city of Port Arthur, Texas, or the

Commission thereby created and its successors, to construct, maintain, and operate a bridge over Lako Sabine, at or near Port Arthur, Texas, and to extend the times for commencing and completing the said bridge

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 4 of the Act entitled "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", approved June 18, 1934, is amended by striking out the words “twenty years” and inserting in lieu thereof the words “thirty years”.

Sec. 2. That the times for commencing and completing the construction of the aforesaid bridge are hereby extended one and three years, respectively, from June 18, 1936.

Sec. 3. That the right to alter, amend, or repeal this Act is hereby expressly reserved.

Approved, April 10, 1936.

(PUBLIC—No. 271–75th CONGRESS]
(CHAPTER 602—1st SESSION)

(H. R. 1979) AN ACT To extend the times for commencing and completing the construction of a bridge over Lako

Sabine at or near Port Arthur, Texas 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 a bridge over Lake Sabine, at or near Port Arthur, Texas, authorized to be built by the city of Port Arthur, Texas, or the Port Arthur Bridge Commission and its successors, by an Act of Congress approved June 18, 1934 (48 Stat. 1008), and heretofore amended and extended by an Act of Congress approved April 10, 1936, are hereby further extended one and three years, respectively, from the date of approval hereof.

Sec. 2. The right to alter, amend, or repeal this Act is hereby expressly reserved.
Approved, August 12, 1937.

O
H. Repts., 75–3, vol. 2—-60

BRIDGE ACROSS MISSISSIPPI RIVER FROM GREENVILLE,

MISS., TO LAKE VILLAGE, ARK.

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

Mr. MALONEY, from the Committee on Interstate and Foreign Com

merce, submitted the following

REPORT

[To accompany H. R. 9983)

that it pass.

The Committee on Interstate and Foreign Commerce, to whom was referred the bill (H. R. 9983) authorizing the city of Greenville, Miss., and Washington County, Miss., singly or jointly, to construct, maintain, and operate a toll bridge across the Mississippi River from a point at or near the city of Greenville, Washington County, Miss., to a point at or near Lake Village, Chicot County, Ark., having considered and amended the same, report thereon with a recommendation

Amend the bill as follows:

Page 3, lines 14 to 18, after the word “tolls” in line 14, strike out the comma and the words “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.”)

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

[Second endorsement]

WAR DEPARTMENT, April 7, 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. 9983, Seventy-fifth Congress, third session, authorizing the city of Greenville, Miss., and Washington County, Miss., singly or jointly, to construct, maintain, and operate a toll bridge across the Mississippi River from a point at or near the city of Greenville, Washington County, Miss., to a point at or near Lake Village, Chicot County, Ark.

HARRY H. WOODRING,

Secretary of War.

DEPARTMENT OF AGRICULTURE,

Washington, April 9, 1938. Hon. CLARENCE F. LEA, Chairman, Committee on Interstate and Foreign Commerce,

House of Representatives. DEAR MR. LEA: Careful consideration has been given to the bill, H. R. 9983,

nsmitted 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 authorize the city of Greenville and the county of Washington, Miss., singly or jointly, to construct, maintain, and operate a bridge and approaches thereto across the Mississippi River from a point at or near Greenville, in said county, to a point at or near Lake Village, Chicot County, Ark. The collection of tolls for transit over such bridge would be authorized. The rates of toll to be charged would have to be so adjusted as to provide a fund sufficient to pay reasonable annual maintenance, repair, and operating costs and provide e sinking fund sufficient to amortize the cost of the bridge and its approaches, including reasonable interest and financing costs, within a period of not to exceed 40 years from the date of completion of the bridge. After a sinking fund sufficient for such amortization shall have been so provided, such bridge thereafter would have to be maintained and operated free of tolls or the rates would have to be so adjusted as to provide only for necessary maintenance, repair, and operation costs.

It is the view of the Department that if such bridge should be constructed and the tolls should fully amortize the cost of its construction, it then should be maintained and operated free of tolls. It, therefore, is suggested that section 4 be amended by changing the comma after the word “tolls”, line 14, to a period and striking out the remainder of said sentence down to and including the word "management", line 18.

Subject to the above suggestion, the bill is without objection so far as this Department is concerned. Sincerely,

M. L. WILSON, Acting Secretary.

HOUSE OF REPRESENTATIVES,
COMMITTEE ON FLOOD CONTROL,

Washington, D. C., April 15, 1938.
H. R. 9983.
Mr. E. J. LAYTON,
Clerk, Committee on Interstate and Foreign Commerce,

Washington, D. C. DEAR MR. LAYTON: I acknowledge receipt of your letter of April 6 respecting the above bill, and I will answer it paragraph by paragraph:

1. There is a ferry now operated across the Mississippi River at a point where U S 82 reaches the bank of the river, 5 miles below Greenville, upon which tolls are charged at the rate of $1.25 per single driver and automobile. It operates leaving Mississippi on the even hour and Arkansas on the half hour.

2. The people in the vicinity of the proposed bridge are desirous of having a bridge constructed. Being unable to construct a free bridge, they desire a toll bridge. Not only are the people in the vicinity interested but the communities and cities in Mississippi and Arkansas through which Highway 82 passes are greatly interested.

3. As stated in 2 there is considerable public sentiment in favor of the construction of the bridge.

4. No. 5. No. If there is any other information desired I will be glad to have you call on me. Very sincerely,

WILL M. WHITTINGTON. O

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