§ 14. The construction, maintenance and operation of vehicular bridges
and tunnels within the said port of New York district (including the
said Holland tunnel and the said Midtown Hudson tunnel), are and will be
in all respects for the benefit of the people of the states of New York
and New Jersey, for the increase of their commerce and prosperity and
for the improvement of their health and living conditions; and the port
authority shall be regarded as performing an essential governmental
function in undertaking the construction, maintenance and operation
thereof and in carrying out the provisions of law relating thereto, and
shall be required to pay no taxes or assessments upon any of the
property acquired or used by it for such purposes.