32:1-51 - Construction costs; pledge of tolls; project self-sustaining - New-jersey Statutes

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Statutes > New-jersey > Title-32 > Section-32-1 > 32-1-51

32:1-51. Construction costs; pledge of tolls; project self-sustaining
The said bridge shall be built and paid for in whole or in part out of moneys to be raised by the port authority on bonds or other securities or obligations issued or incurred by it pursuant to Article VI of the said compact or treaty. The said bonds or other securities and any other obligations which the port authority may incur shall be issued and incurred upon such terms and conditions as the port authority may deem proper. As security therefor the port authority is authorized and empowered to pledge the revenues and tolls arising out of the use of the bridge until such time as the sums borrowed therefor are fully amortized and repaid.

L.1924, c. 149, s. 4, p. 339 (1924 Suppl. s. 161-46).

State Codes and Statutes

Statutes > New-jersey > Title-32 > Section-32-1 > 32-1-51

32:1-51. Construction costs; pledge of tolls; project self-sustaining
The said bridge shall be built and paid for in whole or in part out of moneys to be raised by the port authority on bonds or other securities or obligations issued or incurred by it pursuant to Article VI of the said compact or treaty. The said bonds or other securities and any other obligations which the port authority may incur shall be issued and incurred upon such terms and conditions as the port authority may deem proper. As security therefor the port authority is authorized and empowered to pledge the revenues and tolls arising out of the use of the bridge until such time as the sums borrowed therefor are fully amortized and repaid.

L.1924, c. 149, s. 4, p. 339 (1924 Suppl. s. 161-46).

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State Codes and Statutes

Statutes > New-jersey > Title-32 > Section-32-1 > 32-1-51

32:1-51. Construction costs; pledge of tolls; project self-sustaining
The said bridge shall be built and paid for in whole or in part out of moneys to be raised by the port authority on bonds or other securities or obligations issued or incurred by it pursuant to Article VI of the said compact or treaty. The said bonds or other securities and any other obligations which the port authority may incur shall be issued and incurred upon such terms and conditions as the port authority may deem proper. As security therefor the port authority is authorized and empowered to pledge the revenues and tolls arising out of the use of the bridge until such time as the sums borrowed therefor are fully amortized and repaid.

L.1924, c. 149, s. 4, p. 339 (1924 Suppl. s. 161-46).