As soon as the Secretary of Highways and the owner or owners have agreed upon the purchase price of any such bridge, as evidenced by an agreement approved as provided in section six of this act, the Secretary of Highways shall take possession of such bridge in the name of the Commonwealth. Whenever the Secretary of Highways condemns any such toll bridge, as hereinbefore provided, he shall forthwith take possession of such bridge in the name of the Commonwealth. The amount of any award or verdict under the condemnation proceedings for the acquisition of any such bridge shall be paid out of moneys in the Toll Bridge Fund by the State Treasurer upon requisition by the Secretary of Highways.

It shall be the mandatory duty of the Secretary of Highways to notify the Governor, the Auditor General and the State Treasurer to issue and sell bonds promptly to provide funds for payment of any final award in condemnation proceedings instituted for the acquisition of any toll bridge. It shall be the mandatory duty of the Governor, the Auditor General and the State Treasurer to issue and sell bonds, as herein provided, in an amount not to exceed eight million five hundred thousand dollars ($8,500,000) in the aggregate.