(1) A railroad bridge or tunnel company organized under this act may construct bridges over or tunnels under the waters of this state to extend the railroad track or tracks which they may lay upon any bridge or through any tunnel which they may construct, so as to connect with any railroad whose business may pass through it, and for that purpose may acquire the right-of-way over or under or across any private property, in the same manner as provided in this act for acquiring the right-of-way for railroads, and, with the authority of the legislative body of any city, may acquire the right to cross and use that portion of any street as may be found necessary.

  (2) To raise money for these purposes, a railroad company may issue and sell bonds, and secure their payment by deeds of trust; and for these purposes the railroad bridge companies and railroad tunnel companies shall have the same rights as railroad companies organized under this act.