Chap. 461.—An ACT to give the consent of the State of Virginia and to author-
ize and permit any legally constituted bridge corporation, its successors and
assigns, to construct, maintain and operate a bridge and approaches thereto
across New river, the acquisition of same by the State highway commission,
and the control and regulation by the State corporation commission, [HB 333]

Approved March 26, 1928

1. Be it enacted by the general assembly of Virginia that the con-
sent of the State of Virginia is given that any legally constituted bridge
corporation, its successors and assigns, “with the approval and consent
of the State highway commission pursuant to the provisions of this
act may” and they are authorized to construct, maintain and operate a
bridge and approaches thereto, at points suitable to the interests of
the traveling public, and best adapted to the economical construction
and maintenance of said bridge, across New river, from a point on the
west bank thereof, which point shall be not more than one-half mile
below or north of the present site of Jackson's ferry, and not higher
or further south than the village of Austinsville, to a point on the east
bank of the said river, which shall not be more than one-half mile
below the present site of Jackson’s ferry, or higher up the river than
the village of Austinsville, all of said points being in Wythe county.
Virginia.

“Provided :

(a) That the highway commission shall designate the exact loca-
tion of said bridge, and provided,

(b) That if any such bridge corporation or its successors and
assigns erects said bridge within one-half mile of an existing legally
established ferry, then said corporation, its successors or assigns, shall
before opening said bridge to travel, or collecting tolls therefrom, pay
to the owner or owners of said ferry the damages resulting to the said
owner or owners from the erection and operation of said bridge, which
shall be included as a part of the original cost of the bridge as defined
in section three hereof. In the event that the said corporation and the
owner or owners of such ferry are unable to agree upon the damage,
then the bridge corporation shall apply to the circuit court of Wythe
county, or the judge thereof in vacation, for the appointment of com-
missioners to assess the same, and thereafter the proceedings shall
conform to the procedure in condemnation cases instituted by other
public service corporations.”

2. Five years from the time the said bridge across New river has
been completed and opened for public travel, the State highway com-
mission shall have the right to purchase said bridge and approaches
thereto, with the real estate and tangible personal property necessary
for its proper operation, at a price equal to the original cost, ta be
determined as hereinafter provided, less reasonable depreciation: or,
in the event it does not purchase said bridge at the end of said five-year
period, then the State highway commission shall have the right, upon
the same terms, to purchase said bridge, with approaches and tangible
property, necessary for the proper operation thereof, at the expira-
tion of any period of two years from and after the period above fixed.

In order to exercise the rights above granted to the State highway
commission to purchase and take over said bridge and real and tangible
personal property, it must give to the company, its successors and as-
signs, not less than six months’ formal notice of its intention so to do,
specifying the date on which conveyance will be required. Title to
such bridge or bridges shall vest in the Commonwealth of Virginia.
free of lien at the time set in such notice, upon payment or offer of
the purchase price of such bridge and such real and personal property.
determined in accordance with this act, to the company, its successors
or assigns, or to the trustee or trustees, or mortgagees, in any deed
of trust or mortgage on the said property, or to the lien creditor or
creditors as their interest may appear of record.

3. The original cost of the property of the company which may be
acquired by the State highway commission hereunder shall be ascer-
tained by the State highway commission and shall include the actual
cost of such property to the company, plus ten per cent to cover all
costs and expenses of establishment, administration, contingencies,
engineering, and any other costs and expenses, and an additional
amount equal to interest at the rate of six per cent per annum on the
amount actually invested by such company in such property or in hand
for investment therein during the period of construction. The State
highway commission shall ascertain the depreciation.

4, All plans and specifications must be submitted to the State
highway commission for its approval before the work is commenced,
and access to the work during construction shall be granted to the
Virginia State highway commission, or its agents, at all times, “pro-
vided that an inspector shall be employed on this work at all times
who shall be appointed by, and who shall report to the State highway
commission, and shall be paid by the bridge company.”

414. The bridge corporation erecting a bridge under this act shall
pay to the owner of the present ferry rights now in operation over
Jackson’s ferry, the amount equal to the net profits that the owner
would earn from operation of the ferry for a period of three years
based upon the profits earned for the year immediately preceding the
erection of such bridge, and in construction of such bridge; if the
American Legion Post at Galax, Virginia, shall desire to place pylons
at each end of the bridge and erect tablets thereon, in memory of the
soldiers of the late war, they are to have this privilege provided the
said post pays the cost of constructing such pylons and tablets.

5. Any corporation building a bridge hereunder shall be deemed
to be a public utility corporation and a public service corporation, as
provided by general law, and its rates and charges, and rules and regu-
lations shall be subject to the control and supervision of the State
corporation commission as is, or may be, provided by general law for
public utility or public service corporations. Nothing contained in this
act shall be construed to give to any such bridge corporation any spe-
cial or exclusive right, privilege or immunity in violation of the provi-
sions of the Constitution of Virginia.

6. An emergency being declared to exist, this act shall take effect
from and after its passage.