§ 711. Agreements of the state. 1. The state of New York does pledge
to and agree with the holders of bonds issued pursuant to this title
that the state will not limit or alter the rights hereby vested in the
authority to construct, maintain, reconstruct and operate the bridge, to
establish and collect charges and tolls and to fulfill the terms of any
agreements made with the holders of the bonds, or in any way impair the
rights and remedies of the bondholders, until the bonds, together with
interest thereon, with interest on any unpaid installments of interest,
and all costs and expenses in connection with any action or proceeding
by or on behalf of the bondholders, are fully met and discharged.

2. The state of New York does covenant and agree with the holders of
bonds issued pursuant to this title that, except for structures
constructed in connection with the development of the Saint Lawrence
seaway or of hydro-electric power, no tunnel, bridge, parkway, causeway,
road, highway or other connection for vehicular traffic except for ferry
transportation which will be competitive with the bridge herein
authorized will be constructed or maintained until the bonds, together
with interest thereon, with interest on any unpaid installments of
interest, and all costs and expenses in connection with any action or
proceeding by or on behalf of the bondholders are fully met and
discharged; provided that a tunnel, bridge, parkway, causeway, 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 of New York and the province of Ontario, Canada,
across the Saint Lawrence river within a distance of twenty-five miles
from the bridge herein authorized.