New York Laws
Title 9 - New York State Thruway Authority
373 - Agreement of the State.

§ 373. Agreement of the state. 1. The state does pledge to and agree
with the holders of notes, bonds, or other obligations of the authority
not guaranteed by the state that the state will not limit or alter the
rights hereby vested in the authority to establish and collect such
fees, rentals and charges as may be convenient or necessary to produce
sufficient revenue to meet the expense of maintenance and operation and
to fulfill the terms of any agreements made with the holders thereof, or
in any way impair the rights and remedies of such holders until such
notes, bonds, and other obligations, together with the interest thereon,
with interest on any unpaid installments of interest, and all costs and
expenses in connection with any action or proceedings by or on behalf of
such holders, are fully met and discharged.

2. The state does pledge to and agree with the holders of any notes or
bonds of the authority, not guaranteed by the state, secured by a pledge
of the tolls or other revenues or any part thereof from any bridge
constructed by the authority across the Hudson river south of Bear
mountain bridge or from any part of the thruway which includes such
bridge, that no bridge or tunnel constituting a connection for vehicular
traffic over, under or across the Hudson river between the present
location of the Bear mountain bridge and the boundary line between the
state of New York and the state of New Jersey at the west side of the
Hudson river will be constructed or maintained so long as the
obligations of such bonds for principal and interest shall not have been
paid or otherwise discharged.

Structure New York Laws