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This entry was published on 2014-09-22
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SECTION 582
Agreement of the state
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 3, TITLE 4
§ 582. Agreement of the state. The state does pledge to and agree with
the holders of any bonds that the state will not authorize the
construction of any causeway, bridge, tunnel, road, highway or other
connection for vehicular traffic, which will be competitive with the
bridges authorized pursuant to this title nor will it limit or alter the
rights hereby vested in the authority to establish and collect tolls and
fix and collect payments, charges and fees or in any way impair the
rights and remedies of bondholders; provided that a causeway, bridge,
tunnel, road, highway or other connection for vehicular traffic shall be
considered as competitive only if it shall form a connection for
vehicular traffic between the state and the province of Ontario, Canada,
across the Saint Lawrence river within a distance of thirty miles from
the bridges authorized pursuant to this title.