New Jersey § 32:1-88

§ 32:1-88.

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 1 or incidental purposes. 1

N.J.S.A. § 32:1-84.