(1) In the event condemnation proceedings are instituted as herein provided by any county, counties, or the state, for the condemnation of property and franchise or privilege, the future value of any privilege or franchise or any prospective profits shall not be considered as an element of damage in the condemnation and purchase of the property.
(2) The amount of compensation or damage shall not exceed the actual cost of the bridge, turnpike, or causeway, the site for it, necessary improvements, and the moneys expended on approaches leading to the bridge and a reasonable amount expended for promotion and financing, less actual depreciation.