32:1-131 - Objects of bridges and tunnels; tax exemption - New Jersey Statutes

32:1-131.  Objects of bridges and tunnels;  tax exemption
    The construction, maintenance and operation of vehicular bridges and tunnels  within the said Port of New York District (including the said Holland tunnel  and the said Midtown Hudson tunnel), are and will be in all respects for the  benefit of the people of the states of New York and New Jersey, for the  increase of their commerce and prosperity and for the improvement of their  health and living conditions;  and the port authority shall be regarded as  performing an essential governmental function in undertaking the construction,  maintenance and operation thereof and in carrying out the provisions of law  relating thereto, and shall be required to pay no taxes or assessments upon any  of the property acquired or used by it for such purposes.

     L.1931, c. 4, s. 14, p. 26.