This text of New York § 22 (No title) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§ 22. Nothing herein contained shall be construed to affect, diminish\nor impair the rights and obligations created by, or to repeal any of the\nprovisions of chapter three hundred and fifty-two of the laws of New\nJersey of nineteen hundred twenty and chapter two hundred and sixty-two\nof the laws of New Jersey of nineteen hundred twenty-four.\n If, however, any loss shall be suffered by or accrue to the said\nsinking fund, and if, after the making of the payment by the port\nauthority to the state of New Jersey as hereinbefore provided, the\nmoneys in the said sinking fund shall at any time be or become less than\nan amount equal to the principal amount of the then currently\noutstanding New Jersey Camden bridge-Holland tunnel bonds, or if the\nincome and interest currently received f
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§ 22. Nothing herein contained shall be construed to affect, diminish\nor impair the rights and obligations created by, or to repeal any of the\nprovisions of chapter three hundred and fifty-two of the laws of New\nJersey of nineteen hundred twenty and chapter two hundred and sixty-two\nof the laws of New Jersey of nineteen hundred twenty-four.\n If, however, any loss shall be suffered by or accrue to the said\nsinking fund, and if, after the making of the payment by the port\nauthority to the state of New Jersey as hereinbefore provided, the\nmoneys in the said sinking fund shall at any time be or become less than\nan amount equal to the principal amount of the then currently\noutstanding New Jersey Camden bridge-Holland tunnel bonds, or if the\nincome and interest currently received from or currently accruing upon\nthe moneys in the said sinking fund shall be or become insufficient to\npay the interest currently accruing upon or currently payable in\nconnection with the aforesaid New Jersey Camden bridge-Holland tunnel\nbonds, the state of New Jersey represents and agrees that it will make\ngood such deficits out of sources other than revenues from the said\nHolland tunnel.\n The said payment by the port authority to the state of New Jersey\nconstitutes repayment for all moneys contributed by the said state\ntoward the cost of construction of the said Holland tunnel, including\nthe moneys diverted and appropriated by chapter three hundred and\nnineteen of the laws of New Jersey of nineteen hundred twenty-six and\nchapter fifty-eight of the laws of New Jersey of nineteen hundred\ntwenty-seven from the road fund, created by chapter fifteen of the laws\nof New Jersey of nineteen hundred seventeen. The requirement of chapter\nfifty-eight of the laws of New Jersey of nineteen hundred twenty-seven\nthat the said moneys diverted and appropriated by the said statutes of\nthe state of New Jersey shall be returned and credited to the said road\nfund, with interest, shall be and shall be deemed to be satisfied and\ndischarged so far as it relates to the revenues arising from the\noperation of the said Holland tunnel.\n The provisions of this section shall constitute a covenant and\nagreement by the state of New York with the state of New Jersey, the\nport authority and the holders of any bonds or other obligations of the\nport authority, as security for which the tolls and revenues of said\nHolland tunnel may be pledged.\n