N.J.S.A. 32:1-65 — Contract between states and bondholders

32:1-65. Contract between states and bondholders The state of New York by appropriate legislation concurring herein, the provisions of this act together with the provisions complementary thereto in the acts of the legislature of the state of New York, shall constitute a contract or agreement between the two states for the benefit of those lending money to the port authority for the construction of such bridges, and the said port authority on behalf of the state may include in the bonds or other evidences of its obligations issued by it for the construction of the said bridges or incidental purposes such part of this act as shall seem proper as and as evidence of the foregoing agreements made by the state with the holders of the said bonds or other obligations, and thereupon the said terms so included shall become a contract between the state and the holders of the said bonds or other obligations. L.1925, c. 37, s. 6, p. 105.

This is the verbatim text of N.J.S.A. 32:1-65, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.