New Jersey § 32:1-35

§ 32:1-35.

The moneys in the General Reserve Fund of the Port Authority may be pledged in whole

or in part by the Port Authority as security for or applied by it to the repayment

with interest of any moneys which it may raise upon bonds issued by it from time to

time to provide funds for air terminal purposes; and the moneys in said General Reserve

Fund may be applied by the Port Authority to the fulfillment of any other undertakings

which it may assume to or for the benefit of the holders of any such bonds. Subject to prior liens and pledges (and to the obligation of the Port Authority to

apply revenues to the maintenance of its General Reserve Fund in the amount prescribed

by the General Reserve Fund Statutes), 1 the revenues of the Port Authority from facilities established, constructed, acquired

or effectuated through the issuance or sale of bonds of the Port Authority secured

by a pledge of its General Reserve Fund may be pledged in whole or in part as security

for or applied by it to the repayment with interest of any moneys which it may raise

upon bonds issued by it to provide funds for air terminal purposes, and said revenues

may be applied by the Port Authority to the fulfillment of any other undertakings

which it may assume to or for the benefit of the holders of such bonds. 1

N.J.S.A. §§ 32:1-141 to 32:1-143.