§ 27. Power to sell and lease property; disposition of proceeds.
Provided that concurrent legislation for the same purpose be enacted by
the commonwealth of Pennsylvania, the said joint commission be and is
hereby authorized and empowered as follows:

(a) To sell and dispose of such real and personal property in either
Pennsylvania or New York as is, in its judgment, not necessary for the
proper care, maintenance and operation of such bridges as are, or may
hereafter come, under its control and jurisdiction for such price or
prices and under such conditions as such commission may deem proper and
reasonable.

(b) To lease real estate owned by it, and which, in its judgment, is
not necessary for the maintenance and operation of the bridges under its
control and jurisdiction, and to grant licenses to public utility
companies for the occupation of parts of bridges and other real estate
now or hereafter under the control and jurisdiction of said commission,
upon such terms and conditions, and for such rentals and fees, as are,
in the opinion of the commission, proper and reasonable.

(c) To pay all moneys paid to it, in accordance with the provisions of
this section, as follows: one-half thereof shall be paid unto the state
of New York, and the remaining half thereof shall be paid unto the
commonwealth of Pennsylvania, such payment to the state of New York to
be deposited in the state treasury to the credit of the general fund;
provided, however, that whenever the real or personal property, which
the commission may desire to sell, has been acquired or secured at the
sole cost and expense of the commonwealth of Pennsylvania or the state
of New York, the entire net proceeds of such sale shall be paid to the
state which has borne the cost of acquisition of such property.