New Jersey § 32:1-140

§ 32:1-140.

Bonds, or moneys, or both, in an aggregate principal amount of two million fifty thousand

dollars ($2,050,000.00) shall be delivered to each State within three months after

the date on which this act and the concurrent act of the State of New York take effect. Within fifteen months after the date on which this act and the concurrent act of

the State of New York take effect, an additional two million one hundred thousand

dollars ($2,100,000.00) in aggregate principal amount of bonds, or moneys, or both,

shall be delivered to the State of New Jersey and an additional two million ninety-nine

thousand nine hundred eighteen dollars and twenty cents ($2,099,918.20) in aggregate

principal amount of bonds or moneys, or both, shall be delivered to the State of New

York; provided, that if, in the opinion of the commissioners of the Port Authority,

financial conditions are such as to make it desirable to postpone such delivery, then

delivery of said additional amounts shall be postponed in whole or in part until such

time, not later than five years from the effective date of this act, as in the judgment

of said commissioners financial conditions permit such delivery. The Port Authority shall determine whether payments made pursuant to this act and

the concurrent act of the State of New York shall be made by the delivery of bonds

or of moneys, or both, and, if both, in what proportions. The moneys may, at the option of the Port Authority, be paid in cash or by check. Delivery of bonds or moneys to the State of New Jersey shall be made by delivering

or tendering delivery thereof to the State Treasurer at his office at Trenton during

regular business hours. Delivery of bonds or moneys to the State of New York shall be made by delivering

or tendering delivery thereof to the Comptroller of the State of New York at his office

at Albany during regular business hours.