Section 32:3-9 - Rules and regulations; tolls; pledging of revenues

NJ Rev Stat § 32:3-9 (2019) (N/A)

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32:3-9. Rules and regulations; tolls; pledging of revenues

ARTICLE VIII.

The commission is hereby authorized to make and enforce such rules and regulations and to establish, levy and collect (or to authorize by contract, franchise, lease or otherwise, the establishment, levying and collection of) such tolls, rents, rates and other charges in connection with the aforesaid existing bridge across the Delaware river and any other properties which it may hereafter construct, erect, acquire, own, operate, or control, as it may deem necessary, proper, desirable and reasonable, which said tolls, rents, rates and other charges shall be at least sufficient to meet the expenses thereof, including interest and sinking fund charges, and the commission is hereby authorized and empowered to pledge such tolls, rates, rents and other revenues, or any part thereof, either presently received or to be received in the future, or both, as security of the repayment, with interest, of any moneys borrowed by it, or advanced to it, for any of its authorized purposes and as security for the satisfaction of any other obligation assumed by it in connection with such loans or advances.

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Section 32:3-8 - Pledging credit or creating debt of states, counties or municipalities prohibited

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Section 32:3-10 - Power of commission not to be impaired; restriction on additional bridge or tunnel