reglab/statecodes huggingface dataset:
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-59 - Procedure

32:1-59. Procedure
Whenever "real property" as defined in the act to which this act is a supplement is to be acquired by the Port of New York Authority, pursuant to the provisions of the act to which this act is a supplement, all proceedings for such acquisition shall be had pursuant to the provisions of an act entitled "An act to regulate the ascertainment and payment of compensation for property condemned or taken for public use (Revision of one thousand nine hundred)," approved March twentieth, one thousand nine hundred, and the acts amendatory thereof and supplemental thereto.
L.1925, c. 195, s. 1, p. 464.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-60 - New Jersey appropriation; financing by port authority

32:1-60. New Jersey appropriation; financing by port authority
In aid of the prompt and economical construction of the bridges which the Port of New York Authority, hereinafter called the "port authority" , has been authorized to construct across the Arthur Kill between Perth Amboy on the New Jersey side and Tottenville on the New York side and between Elizabeth on the New Jersey side and Howland Hook on the New York side (by chapters 125 and 149, respectively, Laws of New Jersey, 1924, and chapters 230 and 186, respectively, Laws of New York, 1924), there is hereby appropriated, subject to the limitations and conditions hereinafter set forth, the sum of two million dollars ($2,000,000.00), or so much thereof as may be requisitioned, out of any moneys in the state treasury not otherwise appropriated. The said sum shall be paid out by the state treasurer on the warrant of the comptroller of the treasury to the said port authority upon requisitions signed by the chairman of the said port authority, in five annual installments of four hundred thousand dollars ($400,000.00) each, the first installment to be available at any time during the fiscal year commencing in one thousand nine hundred and twenty-five, and one other installment to be available during each of the four succeeding fiscal years. If the requisitions made in any one fiscal year shall not in the aggregate equal such installment of four hundred thousand dollars ($400,000.00), the balance not requisitioned shall be available in any subsequent year during or after the said five-year period and in addition to any installment available during each year; provided, however, that after the first installment of the appropriation hereby made has been paid over to the port authority no subsequent installments shall be paid until the port authority shall have raised on its own obligations and have available for the construction of said bridges an amount of money equal to six times the amount of installments previously paid pursuant to this act, the intent of this proviso being that before payment of any installment hereunder, other than the initial one, money shall have been made available for the construction of said bridges from the obligations of the port authority in an amount at least equal to three times the amount of money paid over to the port authority pursuant to this act and to the legislation complementary hereto of the state of New York.
L.1925, c. 37, s. 1, p. 101.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-61 - Similar advance by New York state

32:1-61. Similar advance by New York state
No part of the said appropriation made by the preceding section shall be payable unless and until the state of New York shall make available to the port authority an equal sum, the intent hereof being that each state shall cause to be paid over, or made available to the port authority in not more than five equal annual installments one-half of a total fund of four million dollars ($4,000,000.00), to be available to the said port authority as an advance for the construction of the said bridges, and that the appropriation of the state of New Jersey is conditioned upon the undertaking of the state of New York to provide its half of the said fund within such five-year period.
L.1925, c. 37, s. 2, p. 102.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-62 - Use of moneys; tolls pledged; project self-sustaining

32:1-62. Use of moneys; tolls pledged; project self-sustaining
The moneys appropriated by this act shall be applied by the port authority to the construction of the bridges hereinbefore mentioned and purposes incidental thereto and for no other purpose whatsoever. The balance of the money needed for the construction of the said bridges and incidental purposes shall be raised by the port authority on its own obligations secured by the pledge of the revenues and tolls arising out of the use of the said bridges, all in accordance with the provisions of the laws authorizing and governing the construction and operation of the said bridges. As security for obligations so issued and the moneys so appropriated, the revenues and tolls arising out of the use of the said bridge shall be pledged to the repayment of the entire issue of bonds and other securities for the construction thereof, together with the interest, and the repayment of the moneys appropriated by the state; it being the declared policy of the state that the said bridges, so far as the payment of the bonds or other securities issued for the construction thereof, together with the repayment of the moneys advanced by the state, shall in all respects be self-sustaining.
L.1925, c. 37, s. 3, p. 102.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-63 - Repayment of state advances

32:1-63. Repayment of state advances
The obligation for moneys so raised by the port authority on its own obligations for the construction of the said bridges and purposes incidental thereto shall constitute a lien upon the revenues and tolls therefrom in accordance with the terms and conditions of law and upon which such moneys are raised, and any right or claim of the state, including that arising out of the appropriation made hereby, shall be subordinated to such lien. The port authority shall, however, pay into the state treasury annually out of the revenues and tolls from each such bridge, a sum equal to four per cent per annum upon the unpaid balance of the amount actually advanced to the port authority hereunder and applied to the respective bridge, as interest for that year, together with at least two per cent of the principal of such advance until the whole sum so advanced is repaid to the state; provided, that the port authority shall not make such payments until it shall have accumulated and only so long as and for the years in which it holds out of the tolls or revenues of such respective bridge or otherwise a reserve fund equal to ten per cent of its own obligations issued in relation to or for the construction of such bridge, over and above the sums required by the terms of such obligations to be set aside for amortization or a sinking fund, and unless in said year the tolls or revenues from the said bridge after the payment of all expenses for operation and maintenance are sufficient to satisfy the interest and other contractual requirements of said obligations; and provided, further, that such payment shall not be made into the state treasury unless there shall be available under the same conditions sufficient money to make payment on similar terms to the state of New York and that if there exists such surplus revenue but insufficient to make complete payment on such terms or conditions both to the states of New York and New Jersey, then such surplus revenue shall be prorated in accordance with the respective unpaid balances of the advances made by the two states and such prorated sum shall be paid into the state treasury in place and stead of the amount above provided, to be applied first upon the interest for the current year and the balance, if any, in reduction of principal. The intent hereof is that the port authority shall be required to and shall pay interest to the state upon such advances, and/or make payments on account of principal, only for the years when, and to the extent that, there shall be available on the conditions herein provided a surplus from the revenues or tolls for the payment of such interest and/or principal.
L.1925, c. 37, s. 4, p. 103.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-64 - Competitive crossings; tolls unimpaired; protection of bondholders

32:1-64. Competitive crossings; tolls unimpaired; protection of bondholders
The state of New Jersey (the state of New York by appropriate legislation concurring herein) does pledge to and agree with those subscribing to the obligations issued by the port authority for the construction of the said bridges and incidental purposes that the state will not authorize the construction or maintenance of any other highway crossings for vehicular traffic on the waters of the Arthur Kill, between the two states in competition with the said bridges, nor will it limit or alter the rights now vested in the port authority to establish and levy such charges and tolls as it may deem convenient or necessary to produce sufficient revenue to meet the expense of maintenance and operation and to fulfill the terms of the obligations assumed by it in relation to such bridges until the said obligations, together with interest thereon, are fully met and discharged; provided that such crossings shall be considered as competitive with the bridges across the Arthur Kill only if they shall form a highway connection for vehicular traffic between the two states across or under the Arthur Kill; and provided further, that nothing herein contained shall preclude the authorization of such additional interstate crossings if and when adequate provision shall be made by law for the protection of those advancing money upon the obligations of the port authority for the construction of the bridges mentioned in paragraph one hereof or incidental purposes.
L.1925, c. 37, s. 5, p. 104.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-65 - Contract between states and bondholders

32:1-65. 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 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 bridges, and the said 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 bridges 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 the state and the holders of the said bonds or other obligations.
L.1925, c. 37, s. 6, p. 105.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-66 - Object of bridge; tax exemption

32:1-66. Object of bridge; tax exemption
The construction, maintenance and operation of said bridges is in all respects for the benefit of the people of the two states, 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 a governmental function in undertaking the said construction, maintenance and operation and in carrying out the provisions of law relating to the said bridges and shall be required to pay no taxes or assessments upon any of the property acquired by it for the construction, operation and maintenance of such bridges.
L.1925, c. 37, s. 7, p. 105.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-67 - Obligations legal for investment

32:1-67. Obligations legal for investment
The obligations which may be issued by the port authority for the construction of the bridges mentioned in number one hereof or for purposes incidental thereto are hereby made securities in which all public officers and bodies of this state and of its municipal subdivisions, all insurance companies and associations, all savings banks and savings institutions including savings and loan associations, executors, administrators, guardians, trustees and all other fiduciaries in this state may properly and legally invest the funds within their control.
L.1925, c. 37, s. 8, p. 105.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-68 - Interpretation

32:1-68. Interpretation
Any powers herein granted to the port authority shall be regarded as in aid of and supplemental to and in no case as a limitation upon any of the powers vested in it by the states of New Jersey and New York and/or by congress.
L.1925, c. 37, s. 9, p. 105.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-69 - Effect of partial invalidity

32:1-69. Effect of partial invalidity
If any term or provision of this act shall be declared unconstitutional or ineffective in whole or in part by a court of competent jurisdiction, then to the extent that it is not unconstitutional or ineffective such term or provision shall be enforced and effectuated; nor shall such determination be deemed to invalidate the remaining terms or provisions hereof.
L.1925, c. 37, s. 10, p. 106.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-71 - Location; Fort Lee to Fort Washington

32:1-71. Location; Fort Lee to Fort Washington
In partial effectuation of the comprehensive plan for the development of the port of New York, and of section four thereof, adopted by the states of New Jersey and New York, by chapter nine, Laws of New Jersey, nineteen hundred and twenty-two, and chapter forty-three, Laws of New York, nineteen hundred and twenty-two, which was consented to and which the Port of New York Authority was authorized and empowered to carry out and effectuate by the congress of the United States by public resolution number sixty-six, sixty-seventh congress, House joint resolution three hundred and thirty-seven, and of the port compact or treaty between the two states dated April thirtieth, nineteen hundred and twenty-one, authorized and approved by chapter one hundred and fifty-one, Laws of New Jersey, nineteen hundred and twenty-one, and chapter one hundred and fifty-four, Laws of New York, nineteen hundred and twenty-one, and consented to by the congress of the United States by public resolution number seventeen, sixty-seventh congress, Senate joint resolution eighty-eight, the Port of New York Authority (hereinafter called the port authority) is authorized and empowered to construct, operate, maintain and own a bridge, with the necessary approaches thereto, across the Hudson river, from points between One Hundred and Seventieth street and One Hundred and Eighty-fifth street, borough of Manhattan, New York city, and points approximately opposite thereto in the borough of Fort Lee, Bergen county, New Jersey.
L.1925, c. 41, s. 1, p. 110.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-72 - Approval of approach plans

32:1-72. Approval of approach plans
The plan of the approaches at either end of the bridge shall be subject to the approval of the respective governors of the states of New York and New Jersey and of the respective municipalities in which they shall be located. Except as so limited the port authority shall determine the site, size, type and method of construction of bridge and approaches and all matters pertaining thereto.
L.1925, c. 41, s. 2, p. 111.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-73 - Regulations; tolls; retirement of obligations

32:1-73. Regulations; tolls; retirement of obligations
The port authority is authorized to make and enforce such rules and regulations and to establish and levy such charges and tolls as it may deem convenient or necessary for the operation and maintenance of the said bridge and to insure at least sufficient revenue to meet the expenses of the construction, operation and maintenance thereof, and to make provision for the payment of the interest upon and amortization and retirement of such bonds or other securities or obligations as it may issue or incur for the purposes of this act, as hereinafter provided. There shall be allocated to the cost of construction, operation and maintenance of the bridge such proportion of the general expenses of the port authority as it shall deem properly chargeable thereto.
L.1925, c. 41, s. 3, p. 111.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-74 - Construction costs; pledge of tolls; project self-sustaining

32:1-74. 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 six 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, subject, however, to the limitations of this act. As security therefor the revenues and tolls arising out of the use of the bridge shall be pledged for the repayment of the entire issue of the bonds and other securities issued for the construction thereof, and the approaches and highway connections, and for the repayment of any moneys advanced by the state, together with interest; it being the declared policy of the state that the said bridge so far as the payment of the bonds or other securities issued, and repayment of moneys advanced by the state for the construction thereof, shall in all respects be self-sustaining.
L.1925, c. 41, s. 4, p. 111.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-75 - Acquisition of property by agreement or condemnation

32:1-75. Acquisition of property by agreement or condemnation
If, for any of the purposes hereunder, the port authority shall find it necessary or convenient for it to acquire any real property as herein defined, in this state, then the port authority may find and determine that such property is required for a public use, and upon such due determination, the said property shall be and shall be deemed to be required for such a public use; and with the exceptions hereinafter specifically noted the said determination or fact shall not be affected by the fact that such property has theretofore been taken for, or is then devoted to, a public use; but the public use in the hands or under the control of the port authority shall be deemed superior to the public use in the hands of any other person, association or corporation. If the port authority is unable to agree for the acquirement of any such property, or if the owner thereof shall be incapable of disposing of the same, or if, after diligent search and inquiry, the name and residence of any such owner cannot be ascertained, or if any such property has been acquired or attempted to be acquired and title or other rights therein have been found to be invalid or defective, the port authority may acquire such property by condemnation under and pursuant to the provisions of this act.
L.1925, c. 41, s. 5, p. 112.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-76 - Property of municipalities; nonimpairment of bonded debt or sinking fund; use of state lands

32:1-76. Property of municipalities; nonimpairment of bonded debt or sinking fund; use of state lands
Anything in this act to the contrary notwithstanding, no property now or hereafter vested in or held by any county, city, borough, village, township or other municipality shall be taken by the port authority, without the authority or consent of such county, city, borough, village, township or other municipality, nor shall anything herein impair or invalidate in any way any bonded indebtedness of the state, or such county, city, borough, village, township or other municipality, nor impair the provisions of law regulating the payment into sinking funds of revenue derived from municipal property, or dedicating the revenues derived from any municipal property to a specific purpose. The port authority is hereby authorized and empowered to acquire from such county, city, borough, village, township or other municipality, by agreement therewith, and such county, city, borough, village, township or other municipality is hereby authorized and empowered to grant and convey for such consideration as it may deem wise, any real property which may be necessary for the construction, operation and maintenance of bridge and approaches thereto, including such real property as has already been devoted to a public use.
The state of New Jersey hereby consents to the use and occupation of the real property of the state necessary for the construction, operation and maintenance of the said bridge and the approaches thereto, including lands of the state lying under the waters of the Hudson river.
L.1925, c. 41, s. 6, p. 112.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-77 - Condemnation procedure

32:1-77. Condemnation procedure
Whenever any proceedings for the acquisition of "real property" , as defined in this act, is instituted under this act, such proceedings shall be conducted pursuant to the provisions of an act entitled "An act to regulate the ascertainment and payment of compensation for property condemned or taken for public use" (Revision of one thousand nine hundred), approved March twentieth, one thousand nine hundred, and the acts amendatory thereof and supplemental thereto.
L.1925, c. 41, s. 7, p. 113.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-78 - Definition of "real property"

32:1-78. Definition of "real property"
The term "real property" as used in this act is defined to include lands, structures, franchises and interests in land, including lands under water and riparian rights and any and all other things and rights usually included within the said term, and includes also any and all interests in such property less than full title, such as easements, rights of way, uses, leases, licenses and all other incorporeal hereditaments and every estate, interest or right, legal or equitable, including terms for years and liens thereon by way of judgments, mortgages or otherwise, and also all claims for damage for such real estate.
L.1925, c. 41, s. 8, p. 113.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-79 - Interpretation

32:1-79. Interpretation
Any powers herein granted to the port authority shall be regarded as in aid of and supplemental to and in no case as a limitation upon any of the powers vested in it by the states of New Jersey and New York and/or by congress.
L.1925, c. 41, s. 9, p. 113.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-80 - Effect of partial invalidity

32:1-80. Effect of partial invalidity
If any term or provision of this act shall be declared unconstitutional or ineffective in whole or in part by a court of competent jurisdiction, then to the extent that it is not unconstitutional or ineffective such term or provision shall be enforced and effectuated; nor shall such determination be deemed to invalidate the remaining terms or provisions hereof.
L.1925, c. 41, s. 10, p. 114.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-81 - Appropriation

32:1-81. Appropriation
For the preliminary work necessary for making borings, surveys, engineering studies, investigations, hearings and all matters incidental or appertaining thereto, the sum of one hundred and fifty thousand dollars ($150,000), or so much thereof as may be necessary, is hereby appropriated out of any moneys in the state treasury not otherwise appropriated. The moneys hereby appropriated shall be paid out by the state treasurer on the warrant of the comptroller of the treasury upon vouchers signed by the chairman of the said port authority. The said sum shall be paid back to the state when the cost of construction of said bridge shall have been fully paid for and the debt or debts created for such purpose amortized.
L.1925, c. 41, s. 11, p. 114.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-82 - Concurrent legislation by New York state

32:1-82. Concurrent legislation by New York state
Neither the construction of such bridge, the approaches or highway connections, nor any preliminary work, authorized by this act, shall be begun, nor shall any moneys be expended hereunder by the port authority, until the state of New York by appropriate legislation concurs therein, and appropriates an equivalent amount.
L.1925, c. 41, s. 12, p. 114.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-83.1 - Authorization of bus passenger facility as improvement to George Washington Bridge; tolls and charges

32:1-83.1. Authorization of bus passenger facility as improvement to George Washington Bridge; tolls and charges
Upon the concurrence of the State of New York herein, in the manner indicated in section 9 hereof, the States of New Jersey and New York agree that the Port Authority is hereby authorized and empowered, in its discretion, to construct, own, maintain and operate in Washington Heights in the borough of Manhattan, New York City, as an addition and improvement to the vehicular bridge over the Hudson river at Fort Lee, known as and hereinafter in this section referred to as the George Washington Bridge, a bus passenger facility, by which is meant a facility consisting of 1 or more buildings, structures, improvements, loading or unloading areas, parking areas or other facilities necessary, convenient or desirable in the opinion of the Port Authority for the accommodation of omnibuses and other motor vehicles operated by carriers engaged in the transportation of passengers, or for loading, unloading, interchange or transfer of such passengers or their baggage, or otherwise for the accommodation, use or convenience of such passengers or such carriers or their employees and for purposes incidental thereto.
Nothing contained herein or in the act supplemental hereby shall be deemed to prevent the Port Authority from establishing, levying and collecting tolls and other charges in connection with such bus passenger facility in addition to and other than the tolls or charges established, levied and collected in connection with the George Washington Bridge or any other bridge or tunnel.
L.1956, c. 156, p. 628, s. 2, supplementing L.1931, c. 4.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-85 - Similar advance by New York state

32:1-85. Similar advance by New York state
No part of the said appropriation made by the preceding section shall be payable unless and until the state of New York shall make available to the port authority an equal sum payable contemporaneously therewith, or earlier, the intent hereof being that each state shall cause to be paid over, or made available to the port authority in not more than five equal annual installments one-half of a total fund of ten million dollars ($10,000,000), to be available to the said port authority as an advance for the construction of the said bridge, and that the appropriation of the state of New Jersey is conditioned upon the undertaking of the state of New York to provide its half of the said fund within such five-year period.
L.1926, c. 6, s. 2, p. 22.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-86 - Use of moneys; tolls pledged; project self-sustaining; tolls

32:1-86. Use of moneys; tolls pledged; project self-sustaining; tolls
The moneys appropriated by this act shall be applied by the port authority to the construction of the bridge hereinbefore mentioned and purposes incidental thereto and to no other purpose whatsoever. The balance of the money needed for the construction of the said bridge and incidental purposes shall be raised by the port authority on its own obligations secured by the pledge of the revenues and tolls arising out of the use of the said bridge, all in accordance with the provisions of the laws authorizing and governing the construction and operation of the said bridge. As security for obligations so issued and the moneys so appropriated, the revenues and tolls arising out of the use of the said bridge shall be pledged to the repayment of the entire issue of bonds and other securities for the construction thereof, together with the interest, and the repayment of the moneys appropriated by the state; it being the declared policy of the state that the said bridge, so far as the payment of the bonds or other securities issued for the construction thereof, together with the repayment of the moneys advanced by the state, shall in all respects be self-sustaining; and the port authority shall charge and maintain revenues and tolls for the use of the said bridge until all bonds and other securities issued for the construction thereof shall have been paid, and until the moneys so as aforesaid advanced by the states of New Jersey and New York shall have been repaid.
L.1926, c. 6, s. 3, p. 23.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-87 - Repayment of state advances

32:1-87. Repayment of state advances
The obligation for moneys so raised by the port authority on its own obligations for the construction of the said bridge and purposes incidental thereto shall constitute a lien upon the revenues and tolls therefrom in accordance with the terms and conditions of law and upon which such moneys are raised, and any right or claim of the state, including that arising out of the appropriation made hereby, shall be subordinated to such lien. The port authority shall, however, pay into the state treasury annually out of the revenues and tolls from the bridge, a sum equal to four per cent per annum upon the unpaid balance of the amount actually advanced to the port authority hereunder and applied to the bridge, as interest for that year, together with at least two per cent of the principal of such advance until the whole sum so advanced is repaid to the state; provided, that the port authority shall not make such payments until it shall have accumulated and only so long as and for the years in which it holds out of the tolls or revenues of such bridge or otherwise a reserve fund equal to ten per cent of its own obligations issued in relation to or for the construction of such bridge, over and above the sums required by the terms of such obligations to be set aside for amortization or a sinking fund, and unless in said year the tolls or revenues from the said bridge after the payment of all expenses for operation and maintenance are sufficient to satisfy the interest and other contractual requirements of said obligations; and provided, further, that such payment shall not be made into the state treasury unless there shall be available under the same conditions sufficient money to make payment on similar terms to the state of New York and that if there exists such surplus revenue but insufficient to make complete payment on such terms or conditions both to the states of New York and New Jersey, then such surplus revenue shall be prorated in accordance with the respective unpaid balances of the advances made by the two states and such prorated sum shall be paid into the state treasury in place and stead of the amount above provided, to be applied first upon the interest for the current year and the balance, if any, in reduction of principal. The intent hereof is that the port authority shall be required to and shall pay interest to the state upon such advances, and/or make payments on account of principal, only for the years when, and to the extent that, there shall be available on the conditions herein provided a surplus from the revenues or tolls for the payment of such interest and/or principal.
L.1926, c. 6, s. 4, p. 23.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-88 - Competitive crossings; tolls unimpaired; protection of bondholders

32:1-88. Competitive crossings; tolls unimpaired; protection of bondholders
The state of New Jersey (the state of New York by appropriate legislation concurring herein) does pledge to and agree with those subscribing to the obligations issued by the port authority for the construction of said bridge and incidental purposes that the state will not authorize the construction or maintenance of any other highway crossings for vehicular traffic of the waters of the Hudson river, between the two states in competition with the said bridge, nor will it limit or alter the rights now vested in the port authority to establish and levy such charges and tolls as it may deem convenient or necessary to produce sufficient revenue to meet the expense of maintenance and operation and to fulfill the terms of the obligations assumed by it in relation to such bridge until the said obligations, together with interest thereon, are fully met and discharged; provided, that such crossings shall be considered as competitive with the bridge across the Hudson river only if they shall form a highway connection for vehicular traffic between the two states across or under the Hudson river, south of the northerly boundary line of the state of New Jersey and a point opposite thereto on the New York side; except that a crossing may be authorized by the state in conjunction with the state of New York at a point in New Jersey opposite a point in the borough of Manhattan, state of New York, south of Sixtieth street on the New York side; and provided, further, that nothing herein contained shall preclude the authorization of such additional interstate crossings if and when adequate provision shall be made by law for the protection of those advancing money upon the obligations of the port authority for the construction of the bridge mentioned in paragraph one hereof or incidental purposes.
L.1926, c. 6, s. 5, p. 24.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-89 - Contract between states and bondholders

32:1-89. 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 the said 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 the state and the holders of the said bonds or other obligations.
L.1926, c. 6, s. 6, p. 25.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-90 - Object of bridge; tax exemption

32:1-90. Object of bridge; tax exemption
The construction, maintenance and operation of said bridge is in all respects for the benefit of the people of the two states, 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 a governmental function in undertaking the said construction, maintenance and operation and in carrying out the provisions of law relating to the said bridge and shall be required to pay no taxes or assessments upon any of the property acquired by it for the construction, operation and maintenance of such bridge.
L.1926, c. 6, s. 7, p. 26.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-91 - Obligations legal for investment

32:1-91. Obligations legal for investment
The obligations which may be issued by the port authority for the construction of the bridge mentioned in number one hereof or for purposes incidental thereto are hereby made securities in which all public officers and bodies of this state and of its municipal subdivisions, all insurance companies and associations, all savings banks and savings institutions, including savings and loan associations, executors, administrators, guardians, trustees and all other fiduciaries in this state may properly and legally invest the funds within their control.
L.1926, c. 6, s. 8, p. 26.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-92 - Interpretation

32:1-92. Interpretation
Any powers herein granted to the port authority shall be regarded as in aid of and supplemental to and in no case as a limitation upon any of the powers vested in it by the states of New Jersey and New York and/or by congress.
L.1926, c. 6, s. 9, p. 26.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-93.1 - Adjustment and liquidation of claims for moneys appropriated by states for constructing bridge

32:1-93.1. Adjustment and liquidation of claims for moneys appropriated by states for constructing bridge
L.1935, c. 165, p. 393, entitled "An act relating to the adjustment and liquidation of the claims of the states of New York and New Jersey arising by reason of advances made to the Port of New York Authority in connection with the George Washington bridge," approved April eighteenth, one thousand nine hundred and thirty-five, saved from repeal. [This act provides for the adjustment and liquidation of the claims in favor of New York and New Jersey for moneys appropriated to the authority for the construction of the George Washington bridge by delivery to the two states of bonds of the authority in an amount equal to five-ninths of the sums actually appropriated by the two states.]
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-94 - Location; Bayonne to Staten Island

32:1-94. Location; Bayonne to Staten Island
In partial effectuation of the comprehensive plan for the development of the port of New York, adopted by the states of New Jersey and New York by chapter nine, Laws of New Jersey, nineteen hundred and twenty-two, and chapter forty-three, Laws of New York, nineteen hundred and twenty-two, which was consented to and which the Port of New York Authority was authorized and empowered to carry out and effectuate by the congress of the United States by public resolution number sixty-six, sixty-seventh congress, house joint resolution three hundred and thirty-seven, and of the port compact or treaty between the two states dated April thirtieth, nineteen hundred and twenty-one, authorized and approved by chapter one hundred and fifty-one, Laws of New Jersey, nineteen hundred and twenty-one, and chapter one hundred and fifty-four, Laws of New York, nineteen hundred and twenty-one, and consented to by the congress of the United States by public resolution number seventeen, sixty-seventh congress, senate joint resolution eighty-eight, the Port of New York Authority (hereinafter called the port authority) is authorized and empowered to construct, operate, maintain and own a bridge, with the necessary approaches across the Kill von Kull from Bayonne on the New Jersey side to Staten Island on the New York side.
L.1925, c. 97, s. 1, p. 303.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-95 - Approval of approach plans

32:1-95. Approval of approach plans
The plan of the approaches at either end of the bridge shall be subject to the approval of the respective governors of the states of New York and New Jersey and of the respective municipalities in which they shall be located. Except as so limited the port authority shall determine the site, size, type, and method of construction of such bridge and approaches and all matters pertaining thereto.
L.1925, c. 97, s. 2, p. 304.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-96 - Regulations; tolls; retirement of obligations

32:1-96. Regulations; tolls; retirement of obligations
The port authority is authorized to make and enforce such rules and regulations and to establish and levy such charges and tolls as it may deem convenient or necessary for the operation and maintenance of the said bridge and to insure at least sufficient revenue to meet the expenses of the construction, operation and maintenance thereof, and to make provision for the payment of the interest upon and amortization and retirement of such bonds or other securities or obligations as it may issue or incur for the purposes of this act, as hereinafter provided. There shall be allocated to the cost of construction, operation and maintenance of the bridge such proportion of the general expenses of the port authority as it shall deem properly chargeable thereto.
L.1925, c. 97, s. 3, p. 304.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-97 - Construction costs; pledge of tolls; project self-sustaining

32:1-97. 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 six 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, subject, however, to the limitations of this act. As security therefor the revenues and tolls arising out of the use of the bridge shall be pledged for the repayment of the entire issue of the bonds and other securities issued for the construction thereof, and the approaches and highway connections, and for the repayment of any moneys advanced by the state, together with interest; it being the declared policy of the state that the said bridge so far as the payment of the bonds or other securities issued, and repayment of moneys advanced by the state for the construction thereof, shall in all respects be self-sustaining.
L.1925, c. 97, s. 4, p. 304.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-98 - Acquisition of property by agreement or condemnation

32:1-98. Acquisition of property by agreement or condemnation
If, for any of the purposes hereunder, the port authority shall find it necessary or convenient for it to acquire any real property as herein defined, in this state, then the port authority may find and determine that such property is required for a public use, and upon such due determination, the said property shall be and shall be deemed to be required for such a public use; and with the exceptions hereinafter specifically noted the said determination or fact shall not be affected by the fact that such property has theretofore been taken for, or is then devoted to, a public use; but the public use in the hands or under the control of the port authority shall be deemed superior to the public use in the hands of any other person, association or corporation. If the port authority is unable to agree for the acquirement of any such property, or if the owner thereof shall be incapable of disposing of the same, or if, after diligent search and inquiry, the name and residence of any such owner cannot be ascertained, or if any such property has been acquired or attempted to be acquired and title or other rights therein have been found to be invalid or defective, the port authority may acquire such property by condemnation under and pursuant to the provisions of this act.
L.1925, c. 97, s. 5, p. 305.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-99 - Property of municipalities; nonimpairment of bonded debt or sinking fund; use of state lands

32:1-99. Property of municipalities; nonimpairment of bonded debt or sinking fund; use of state lands
Anything in this act to the contrary notwithstanding, no property now or hereafter vested in or held by any county, city, borough, village, township or other municipality shall be taken by the port authority, without the authority or consent of such county, city, borough, village, township or other municipality, nor shall anything herein impair or invalidate in any way any bonded indebtedness of the state, or such county, city, borough, village, township or other municipality, nor impair the provisions of law regulating the payment into sinking funds of revenue derived from municipal property, or dedicating the revenues derived from any municipal property to a specific purpose. The port authority is hereby authorized and empowered to acquire from such county, city, borough, village, township or other municipality by agreement therewith, and such county, city, borough, village, township or other municipality is hereby authorized and empowered to grant and convey for such consideration as it may deem wise, any real property which may be necessary for the construction, operation and maintenance of the bridge and the approaches thereto, including such real property as has already been devoted to a public use.
The state of New Jersey hereby consents to the use and occupation of the real property of the state necessary for the construction, operation and maintenance of the said bridge and the approaches thereto, including lands of the state lying under the waters of the Kill von Kull.
L.1925, c. 97, s. 6, p. 305.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-100 - Condemnation procedure

32:1-100. Condemnation procedure
Whenever any proceeding for the acquisition of "real property" as defined in this act, is instituted under this act, such proceeding shall be conducted pursuant to the provisions of an act entitled "An act to regulate the ascertainment and payment of compensation for property condemned or taken for public use" (Revision of one thousand nine hundred), approved March twentieth, one thousand nine hundred, and the acts amendatory thereof and supplemental thereto.
L.1925, c. 97, s. 7, p. 306.
2023 New Jersey Revised Statutes › Title 32 - Interstate and Port Authorities and Commissions › Section 32:1-101 - Definition of "real property"

32:1-101. Definition of "real property"
The term "real property" as used in this act is defined to include lands, structures, franchises and interests in land, including lands under water and riparian rights, and any and all other things and rights usually included within the said term, and includes also any and all interests in such property less than full title, such as easements, rights of way, uses, leases, licenses and all other incorporeal hereditaments and every estate, interest or right, legal or equitable, including terms for years and liens thereon by way of judgments, mortgages or otherwise, and also claims for damages for such real estate.
L.1925, c. 97, s. 8, p. 306.