32:1-112 - Contract between states and bondholders - New Jersey Statutes

32:1-112.  Contract between states and bondholders
    The state of New York by appropriate legislation concurring herein, the provisions of this act together with the provisions complementary thereto in the act or acts of the legislature of the state of New York, shall constitute a  contract or agreement between the two states for the benefit of those lending  money to the port authority for the construction of such bridge and purposes  incidental thereto;  and the port authority on behalf of the state may include  in the bonds or other evidences of its obligations issued by it for the  construction of the said bridge or incidental purposes such part of this act as  shall seem proper as and as evidence of the foregoing agreements made by the  state with the holders of the said bonds or other obligations, and thereupon  the said terms so included shall become a contract between each state and the  holders of the said bonds or other obligations.

     L.1927, c. 3, s. 6, p. 20.