New Jersey § 32:13a-13

§ 32:13a-13.

The commission shall fix, charge and collect tolls for transit through the tunnel,

and such tolls shall be so fixed and adjusted as to provide a fund sufficient to pay

the bonds and the interest thereon and to provide an additional fund to pay the cost

of maintaining, repairing and operating the tunnel. Such tolls shall not be subject to supervision or regulation by any state commission,

board, bureau or agency. The tolls from the tunnel, except such part thereof as may be necessary to pay such

cost of maintaining, repairing and operating, shall be set aside each month in a sinking

fund, which is hereby pledged to, and charged with the payment of, (a) the interest

upon such bonds as such interest shall fall due, (b) the necessary fiscal agency charges

for paying bonds and interest, and (c) the payment of the bonds as they fall due,

or, if all bonds mature at one time, the proper maintenance of a sinking fund sufficient

for the payment thereof at such time, and (d) a margin for the payment of premiums

upon bonds retired by call or purchase as herein provided. Such sinking fund shall be a fund for all such bonds without distinction or priority

of one over another. Prior to the issuance of the bonds, the commission may provide, by resolution or

by such trust indenture, for the use of the sinking fund, or any part thereof, in

the purchase of any of the outstanding bonds, payable therefrom, at the market price

thereof, but not exceeding the price, if any, at which the same shall at the next

interest date be payable or redeemable, and all bonds so redeemed or purchased shall

forthwith be canceled and shall not again be issued. The moneys in the sinking fund, less a reserve for payment of not exceeding one

year's interest on the bonds, if not used within a reasonable time for the purchase

of bonds for cancellation as above provided, shall be applied to the redemption of

bonds by lot at the redemption price then applicable.