New Jersey § 48:5-22

§ 48:5-22.

The state reserves to itself the right, acting in conjunction with any adjoining state

or municipality thereof, to acquire any bridge constructed by any such company at

the following times and upon the following terms: a. At the expiration of five years after the opening of any bridge for public use,

for the total costs thereof of whatever nature and upon assumption of all obligations

or liabilities of the bridge company, for the construction of the bridge, with the

approaches thereto and appurtenances thereof, plus fifteen per cent of the cost; b. At any time thereafter, at such total cost and upon assumption of such obligations

or liabilities, plus fifteen per cent of the cost, less two per cent per annum of

the total cost for each year after the expiration of five years from the date of the

opening of the bridge for public use. Every company organized under this article consents to the acquisition by the state

pursuant to this section of any bridge constructed by the company.