An Act to revive and reenact as amended the act entitled ""An Act, creating the city of Clinton Bridge Commission and authorizing said commission and its successors to acquire by purchase or condemnation and to construct, maintain, and operate a bridge or bridges across the Mississippi River at or near Clinton, Iowa, and at or near Fulton, Ill.,"" approved December 21, 1944
PL 89-498 (H.R.3788), enacted 07/08/1966

272 
PUBLIC LAW 89-498-JULY 8, 1966 
[80 STAT. 
Public Law 89-498 
July 8, 1966 
[H. R. 3788] 
AN ACT 
City of Clinton 
Bridge Commis-
sion. 
58 Stat. 846. 
Bonds, issu-
Redemption. 
To revive and reenact as amended the Act entitled "An Act creating the City of 
Clinton Bridge Commission and authorizing said commission and its suc-
cessors to acquire by purchase or condemnation and to construct, maintain, 
and operate a bridge or bridges across the Mississippi River at or near Clinton, 
Iowa, and at or near Fulton, Illinois," approved December 21, 1944. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States 
of America 
in Congress asse'mbled, That the Act 
approved December 21, 1944:, authorizing the City of Clinton Bridge 
Commission to acquire, construct, maintain, and operate a bridge or 
bridges, including approaches thereto, across the Mississippi River at 
or near the cities of Clinton, Iowa, and Fulton, Illinois, as heretofore 
amended, be, and the same is hereby revived and reenacted: Provided^ 
That this Act shall be null and void insofar as it authorizes the con-
struction of a bridge or bridges unless actual construction thereof be 
commenced within three years and completed within five years from 
the date of approval of this Act. 
SEC. 2. That section 5 of said Act, as heretofore amended, is further 
amended to read as follows: 
"SEC. 5. The commission and its successors and assigns are liereby 
authorized to provide for the payment of the cost of such bridge, or 
bridges as may be acquired, reconstructed, or constructed, as herein 
provided, and approaches (including the approach highways, which, 
in the judgment of the commission, it is necessary or advisable to con-
struct or cause to be constructed to provide suitable and adequate con-
nections with existing improved highways) and the necessary land 
easements and appurtenances thereto, by an issue or issues of negoti-
able bonds of the commission, bearing interest, payable semiannually, 
at the rate of not more than 6 per centum per annum, the principal 
and interest of which bonds shall be payable solely from the funds 
provided in accordance with this Act, and such payments may be 
further secured by mortgage of the bridge or bridges. All such bonds 
may be registrable as to principal alone or both principal and interest, 
shall be payable as to principal within not to exceed twenty-five years 
from the date thereof, shall be in such denominations, shall be executed 
in such manner, and shall be payable in such medium and at such 
place or places as the commission may determine, and the face amount 
thereof shall be so calculated as to produce, at the price of their 
sale, the cost of the bridge or bridges, acquired or constructed, and 
approaches and the land easements, and appurtenances used in con-
nection therewith, when added to any other funds made available to 
the commission for the use of said purposes. 
The commission may 
reserve the right to redeem any or all of said bonds before maturity 
in such manner and at such price or prices not exceeding 105 and 
accrued interest as may be fixed by the commission prior to the issu-
ance of the bonds. Subject to the provisions of any prior contracts 
or obligations the commission may disburse any available bridge rev-
enues or other funds or borrow money and issue its negotiable interest-
bearing notes in evidence thereof to defray the cost of designing, 
engineering, and planning a new bridge or bridges under this Act 
and acquire lands for the location and approaches thereto, provided 
that all notes evidencing the funds so borrowed, if not previously 
paid from such bridge revenues, shall be repaid from the proceeds of 
the bonds of the commission when issued for account of such new 
80 
STAT.] 
PUBLIC LAW 89-498-JULY 8, 1966 
273 
bridge or bridges. 
In the event the commission issues notes as here-
inbefore in this section provided and said notes have not been other-
wise paid and a new bridge or bridges are not built, said notes shall 
be paid from revenues derived from the operation of any other bridge 
or bridges owned by the commission, subject to the obligation of pay-
ment of all outstanding indebtedness for which said revenues nave 
been theretofore j)ledged. The commission when it deems it advisable 
may issue refunding oonds to refinance any outstanding bonds, and 
to pay any other indebtedness of the commission, at maturity or 
before maturity when called for redemption, and may include, as a 
part of an issue of bonds to provide for the cost of a bridg:e to be 
constructed under this Act, sufficient additional bonds bearing interest 
at a rate or rates not exceeding 6 per centum per annum to refinance 
any outstanding bonds and notes at maturity or before maturity when 
called for redemption. 
The commission may enter into an agreement 
with any bank or trust company in the United States as trustee having 
the power to make such agreement, setting forth the duties of the 
commission in respect to the acquisition, construction, maintenance, 
operation, repair, and insurance of the bridge or bridges, the conser-
vation and application of all funds, the security for the payment of 
the bonds, the safeguarding of money on hand or on deposit, and 
the rights and remedies of said trustee and the liolders of the bonds, 
restricting the individual right of action of the bondholders as is 
customary in trust agreements respecting bonds of corporations. 
Such trust agreement may contain such provisions for protecting 
and enforcing the rights and remedies of the trustee and the bond-
holders as may be reasonable and proper and not inconsistent with 
the law. 
"Said bonds may be sold at not less than par after public advertise-
ment for bids to be opened publicly at the time and place stated in 
such advertisement and at the price bid which will yield the greatest 
return to the commission for the bonds to be sold. Such advertisement 
for bids shall be published at least once each week for at least two 
consecutive weeks in a newspaper or financial journal having recog-
nized circulation among bidders for bonds of the type and character 
offered. The price to be paid for the bridge or bridges acquired here-
under shall not exceed the reasonable value thereof as determined by 
the commission at the time of acquisition. The cost of the bridge to 
be constructed as provided herein, together with the approaches and 
approach highways, shall be deemed to include interest during con-
struction of the bridge and for twelve months thereafter, and all 
engineering, legal, financing, architectural, traffic surveying, con-
demnation, and other expenses incident to the bridge and the acquisi-
tion of the necessary property, including the cost of acquiring existing 
franchises and riparian rights relating to the bridge, as well as the 
cost of abandonment or dismantlement of any existing bridge to be 
replaced thereby. If the proceeds of the bonds shall exceed the cost 
as finally determined, the excess shall be placed in the fund hereafter 
provided to pay the principal and interest of such bonds. Prior to 
the preparation of definitive bonds the commission may, under like 
restrictions, issue temporary bonds or may, under like restrictions, 
issue temporary bonds or interim certificates without coupons, of any 
denomination whatsoever, exchangeable for definitive bonds when 
such bonds that have been executed are available for delivery.'' 
SEC. 3. Subsection (a) of section 8 of such Act of December 21, 
1944j as amended, is amended by striking out "the bonds and interest," 
and mserting in lieu thereof: "the bonds, the notes issued under section 
5 of this Act, and the interest,". 
SEC. 4. The right to alter, amend, or repeal this Act is hereby ex-
pressly reserved. 
Approved July 8, 1966. 
Refunding 
bonds. 
Trust agree-
ments. 
Sale of bonds. 
Cost of bridge, 
inclusive items. 
Temporary bonds, 
issuance.