§ 11. The port authority is hereby authorized to make and enforce such
rules and regulations and to establish, levy and collect such tolls and
other charges in connection with any vehicular bridges and tunnels which
it may now or hereafter be authorized to own, construct, operate or
control (including the said Holland tunnel and the said Midtown Hudson
tunnel), as it may deem necessary, proper or desirable, which said tolls
and charges shall be at least sufficient to meet the expenses of the
construction, operation and maintenance thereof, and to provide for the
payment of, with interest upon, and the amortization and retirement of
bonds or other securities or obligations issued or incurred for bridge
or tunnel purposes. There shall be allocated to the cost of the
construction, operation and maintenance of such bridges and tunnels,
such proportion of the general expenses of the port authority as it
shall deem properly chargeable thereto.

The moneys in the general reserve fund of the port authority
(authorized by chapter five of the laws of New Jersey of nineteen
hundred thirty-one, as amended, and chapter forty-eight of the laws of
New York of nineteen hundred thirty-one, as amended) may be pledged in
whole or in part by the port authority as security for or applied by it
to the repayment with interest of any moneys which it may raise upon
bonds or other securities or obligations issued or incurred from time to
time for any of the purposes of this act or secured in whole or in part
by the pledge of the revenues of the port authority from any bridge or
tunnel or both so issued or incurred and so secured; and the moneys in
said general reserve fund may be applied by the port authority to the
fulfillment of any other undertakings which it may assume to or for the
benefit of the holders of any such bonds, securities or other
obligations.

Subject to prior liens and pledges (and to the obligation of the port
authority to apply revenues to the maintenance of its general reserve
fund in the amount prescribed by the said statutes authorizing said
fund), the revenues of the port authority from facilities established,
constructed, acquired or effectuated through the issuance or sale of
bonds of the port authority secured by a pledge of its general reserve
fund may be pledged in whole or in part as security for or applied by it
to the repayment with interest of any moneys which it may raise upon
bonds or other securities or obligations issued or incurred from time to
time for any of the purposes of this act or secured in whole or in part
by the pledge of the revenues of the port authority from any bridge or
tunnel or both so issued or incurred and so secured, and said revenues
may be applied by the port authority to the fulfillment of any other
undertakings which it may assume to or for the benefit of the holders of
such bonds, securities or other obligations.

In the event that at any time the balance of moneys theretofore paid
into the general reserve fund and not applied therefrom shall exceed an
amount equal to one-tenth of the par value of all bonds legal for
investment, as defined and limited in the said statutes authorizing said
fund, issued by the port authority and currently outstanding at such
time, by reason of the retirement of bonds or other securities or
obligations issued or incurred from time to time for any of the purposes
of this act or secured in whole or in part by the pledge of the revenues
of the port authority from any bridge or tunnel or both so issued or
incurred and so secured, the par value of which had theretofore been
included in the computation of said one-tenth, then the port authority
may pledge or apply such excess for and only for the purposes for which
it is authorized by the said statutes authorizing said fund to pledge
the moneys in the general reserve fund and such pledge may be made in
advance of the time when such excess may occur.