Page:United States Statutes at Large Volume 42 Part 1.djvu/205

 SIXT1-SEVENTH CONGRESS. Sess. I. Ch. 77. 1921. 177 manner and for_the terms fixed and determined from time to C0§’lQ{_f§dN°" Y°'*·· Lime by thedlggislature of each State, respectively, except as ` erem provide . Each commissioner may be removed or suspended from office aspzocwpded by the law of the State for which he shall be appom e . _ Anr. 5. The commissioners shall, for the purpose of do` busmess, consfiftute a board and may adopt suitable by-lawlsugor its managemen . Aer. 6. The port authoriply shall constitute a body, both corporate and politic, with f power and authority to purchase, construct,_ lease, and/or operate any terminal or transportation facility withm sand district; and to make charges for the use thereof; and for any of such purposes to own,hol, lease, and/or pperate real or personal property, to borrow money and secure e same by bonds or by mortgages upon anylfproperty held or to be held by it. No property now or here ter vested_in or held by either State, or by any counsly, city, borough, village, _ township, or other mumcnpahty, sh be taken by the port authority, without the authority or consent of such State, county city, borough, village, township, or other municipality, nor shall anlytbxuherein impair or invalidate in any way any bonded m_ eb ess of such State, county, city, borough, village, township, or other mumcipality, nor impair the provisions of law regulatingtheapayment into sinking funds of revenues derived from mumcip property, or dedicatir:§ the revenues derived from any municipal property to a s1pec' c purpose. The powers granted in this artie e shall not be exercised by the port authority until the legislatures of both States shall have apptroveid  a eom e plan for the development of the po as erexnafter vn. Am. 7. The portpdiithority shall have such additional powers and duties as may hereafter be del vated to or imposed upon it from time to time by the action of ills legislature of either State concurred in by the legislature of the other. Unless and until otherwise provided, it shall make an annual report to the legislature of both States, setting forth in detail the operations and transactions conducted by it pursuant to this agreement and any legislation thereunder. The port authority shall not pledge ge lured; of eitlher State except by and with the authority of e e ture thereo. 8. Unless and until otherwise provided, all laws now or hereafter vesting jurisdiction or control in the public service commission, or the public utilities commission, or like body, within each State, respectively, shall appli to railroads and to any transportation, terminal, or other ac' `ty owned, operated, leased, or constructed by the port authority, with the same force and effect as if such railroad, or transportation, terminal, or other facility were owned, leased, operated, or constructed by a private co ration. 2;*12 9. Nothing contained in this agreement shall impair the powers of girly municipality to deve op or improve port and termm al a `ties. Am'. 10. The legislatures of the two States, prior to the sign- ' of this agreement, or thereafter as soon as may be practicable, $1 adopt a lan or plans for the comprehensive development of the port of if ew Yor. _ Ama 11. The port authority shall from time to time make plans for the development of said district, zgpplementary to or amendatory of any plan theretnfore adop, and when such 42150*-Z;--12 `