New Jersey § 32:1-141

§ 32:1-141.

The bonds or other obligations which may be issued by the Port of New York Authority

(hereinafter called the Port Authority) from time to time to provide funds for the

establishment, acquisition and rehabilitation of motor truck terminals (by which are

meant terminals consisting of one or more platforms, sheds, buildings, structures,

facilities or improvements necessary, convenient or desirable in the opinion of the

Port Authority for the accommodation of motor trucks or the loading or unloading of

freight upon or from motor trucks or the receipt, delivery, storage or handling of

freight transported or to be transported by motor trucks or the interchange or transfer

thereof between carriers) located at such point or points within the Port of New York

District as the Port Authority may deem to be desirable and in the public interest,

or for the acquisition of real or personal property in connection therewith, or for

any other purpose in connection with the establishment, acquisition, construction,

rehabilitation, maintenance or operation of such truck terminals or any of them, and

the bonds or other obligations which may be issued by the Port Authority to provide

funds for the rehabilitation of the Port Authority Grain Terminal (by which is meant

the grain elevator, piers, lands and other structures and properties now or hereafter

owned by the Port Authority at Gowanus bay, Brooklyn, New York) or for the making

of additions, improvements or betterments thereto or for the acquisition of real or

personal property in connection therewith or for any other purpose in connection with

the rehabilitation, maintenance or operation thereof, including the payment, satisfaction,

funding or refunding of moneys advanced to the Port Authority for use in connection

with the establishment, rehabilitation, improvement, maintenance or operation of said

grain terminal and of any amounts otherwise payable out of the revenues from said

grain terminal or the pier development fund established in connection therewith, are

hereby made securities in which all State and municipal officers and bodies, all banks,

bankers, trust companies, savings banks, building and loan associations, savings and

loan associations, investment companies and other persons carrying on a bank business,

all insurance companies, insurance associations and other persons carrying on an insurance

business, and all administrators, executors, guardians, trustees and other fiduciaries,

and all other persons whatsoever, who are now or may hereafter be authorized to invest

in bonds or other obligations of the State, may properly and legally invest any funds,

including capital, belonging to them or within their control; and said obligations

are hereby made securities which may properly and legally be deposited with and shall

be received by any State or municipal officer or agency for any purpose for which

the deposit of bonds or other obligations of this State is now or may hereafter be

authorized.