32:8-7 - Powers of commission not to be impaired; restriction on additional bridge or tunnel - New Jersey Statutes

32:8-7.  Powers of commission not to be impaired;  restriction on additional  bridge or tunnel
     ARTICLE VI.

     The state of New Jersey and the commonwealth of Pennsylvania hereby covenant  and agree with each other and with the holders of any bonds or other obligations of the commission, for which tolls, rents, rates, or other revenues  have been pledged, that, so long as any of said bonds or obligations remain  outstanding and unpaid (unless adequate provision is otherwise made by law for  the protection of those advancing moneys upon such bonds or obligations), the  state of New Jersey and the commonwealth of Pennsylvania will not diminish or  impair the power of the commission to own, operate and control said properties  and facilities, or to establish, levy and collect tolls, rents, rates, and  other charges in connection with such properties and facilities.

    The state of New Jersey and the commonwealth of Pennsylvania hereby covenant  and agree with each other and with the holders of any bonds or obligations of  the commission for which tolls, rents, rates or other revenues shall have been  pledged, that the said state and commonwealth will not authorize or permit the  construction, operation and maintenance of any additional bridge or tunnel for  the transportation of passengers by vehicles over the Delaware river by any  other person or body, than the commission, within a distance of ten miles in  either direction from any such toll bridges, measured along the boundary line  between the said state and the said commonwealth.