§ 13 — No title

New York § 13

• Jurisdiction: New York
• Law BAT: Bridges and Tunnels New York/New Jersey 47/31

Text

§ 13. The bonds or other securities or obligations which may be issued\nor incurred by the port authority pursuant to this act, or as security\nfor which there may be pledged the tolls and other revenues or any part\nthereof of any vehicular bridge or tunnel (including the said Holland\ntunnel and the said Midtown Hudson tunnel) now or hereafter authorized\nby the two said states or both so issued or incurred and so secured, are\nhereby made securities in which all state and municipal officers and\nbodies, all banks, bankers, trust companies, savings banks, savings and\nloan associations, investment companies and other persons carrying on a\nbanking business, all insurance companies, insurance associations and\nother persons carrying on an insurance business, and all administrators,\nexecutors, guardians, trustees and other fiduciaries and all other\npersons whatsoever who are now or may hereafter be authorized to invest\nin bonds or other obligations of the state, may properly and legally\ninvest any funds, including capital, belonging to them or within their\ncontrol; and said bonds or other securities or obligations are hereby\nmade securities which may properly and legally be deposited with and\nshall be received by any state or municipal officer or agency for any\npurpose for which the deposit of bonds or other obligations of this\nstate is now or may hereafter be authorized.\n