582 - Agreement of the state. - New York Statutes

§ 582. Agreement of the state. The state does pledge to and agree with the holders of any bonds that the state will not authorize the construction of any causeway, bridge, tunnel, road, highway or other connection for vehicular traffic, which will be competitive with the bridges authorized pursuant to this title nor will it limit or alter the rights hereby vested in the authority to establish and collect tolls and fix and collect payments, charges and fees or in any way impair the rights and remedies of bondholders; provided that a causeway, bridge, tunnel, road, highway or other connection for vehicular traffic shall be considered as competitive only if it shall form a connection for vehicular traffic between the state and the province of Ontario, Canada, across the Saint Lawrence river within a distance of thirty miles from the bridges authorized pursuant to this title.