§ 158 — Competing highways not to be authorized

New York § 158

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 3: Jones Beach State Parkway Authority
• Art. 2: Park, Parkway and Highway Authorities

Text

* § 158. Competing highways not to be authorized. The state of New\nYork does pledge to and agree with the holders of any bonds that the\nstate will not authorize the construction or maintenance of any parkway,\ncauseway, bridge, tunnel, street, road, highway or other connection for\nvehicular traffic, which will be competitive with Jones Beach parkway,\nnor will it limit or alter the rights hereby vested in the authority to\nestablish and collect such charges and tolls as may be convenient or\nnecessary to produce sufficient revenue to meet the expense of\nmaintenance and operation and fulfill the terms of any agreements made\nwith the holders of the bonds, or in any way impair the rights and\nremedies of bondholders, until the bonds, together with interest\nthereon, with interest on any unpaid installments of principal and\ninterest, and all costs and expenses in connection with any actions or\nproceedings, by or on behalf of the bondholders, are fully met and\ndischarged; provided that a parkway, causeway, bridge, tunnel, street,\nroad, highway or other connection for vehicular traffic shall be\nconsidered as competitive only if it shall form a connection for\nvehicular traffic between the mainland of Long Island and the island of\nLong Beach east of the most easterly point of the present city of Long\nBeach or between the mainland of Long Island and the island on which\nJones Beach park is located west of the most easterly point of Oak\nisland, or between the island of Long Beach and the island on which\nJones Beach park is located. This section shall be effective only so\nlong as bonds issued by the authority prior to January first, nineteen\nhundred thirty-nine shall be outstanding and unpaid.\n * NB (Authority abolished June 30, 1978)\n