New Jersey § 48:5-10

§ 48:5-10.

The directors of the companies proposing to enter into such joint agreement may agree

upon the terms thereof and the agreement may prescribe the terms and conditions thereof

and the mode of carrying it into effect. The parties to the agreement may pledge to and with each other for the due performance

thereof, all their present and future acquired property and franchises. They may prescribe such provisions relating to the issue of obligations by either

or both companies and the securing of the same by guarantee or mortgage of the franchises

and property of either or both companies, present or future acquired and relating

to the ownership, possession, control, maintenance and operation of the whole or any

part of such bridge, its connections, appurtenances, approaches and stations by the

respective companies or by their respective stockholders, directors, committees, officers

or agents, or by any board of managers or arbitrators appointed under the agreement,

as may be proper to effect the objects thereof.