Page:United States Statutes at Large Volume 49 Part 1.djvu/1107

 1 062 14 TH CONGRESS. SESS. I'. CH. 833 . AUGUST 30, 1935. "Real property" de- The term" real property", as used in this compact, includes lands, line d' structures, franchises, and interests in land, including lands under water and riparian rights, and any and all things and rights usually included within the said term, and includes not only fees simple and absolute but also any and all lesser interests, such as easements, rights-of-way, uses, leases, licenses, and all other incorporeal heredi- taments, and every estate, interest, or right, legal or equitable, includ- ing terms of years and liens thereon by way of judgments, mortgages, or otherwise, and also claims for damage to real estate. ARTICLE IV Notw ithsta nding any p rovis ion o f this agre ement, the commis sion shall have no power to pledge the credit of the Commonwealth of Pennsylvania, or of the State of New Jersey, or of any county, city, borough, village, township, and other municipality of said Common- wealth or State, or to create any debt against said Commonwealth or State o r any such municipality. ARTICLE V ti Arles and regula- The commission is hereby authorized to make and enforce such rules and regulations, and to establish, levy, and collect (or to authorize by contract, franchise, liens, or otherwise, the establish- ment, levying, and collection of) such tolls, rates, rents, and other charges, in connection with any such bridge across the Delaware River w hich it may hereafter construct and operate, as it may deem necessary, proper, desirable, and reasonable, which tolls, rates, rents, and other charges shall be at least sufficient to meet interest and sinking-fund charges on bonds and obligations issued by the com- mission, the maintenance of such bridge, and the administrative expenses of the commission properly chargeable to such bridge. The commission is hereby authorized and empowered to pledge such tolls, rates, rents, and other revenues, or any part thereof, as security for the repayment, with interest, of any moneys borrowed by it or a dvanced to it for an y of its a uthorized purposes, and as sec urity for the satisfaction of any other obligation assumed by it in connection with su ch loans or advances. Pledging credit or creating debt. Commission's o b 1 i - gation s not i mpaired. ARtiCLE VI The. Commonwealth of Pennsylvania and the State of New Jersey hereby covenant and agree with each other and with the holders of any bon ds or other obligations of the commission, for which tolls, rents, rates, or other revenues have been pledged, that, so long as any of said bonds or obligations remain outstanding and unpaid (unless adequate provision is otherwise made by law for the pro- tection of those advancing moneys upon such bonds or obligations), the Commonwealth of Pennsylvania and the State of New Jersey will not diminish or impair the power of the commission to own, operate, and control said properties and facilities, or to establish, levy, and collect tolls, rents, rates, and other charges in connection with such properties and facilities. The Commonwealth of Pennsylvania and the State of New Jersey hereby covenant and agree with each other and with the holders oS any bonds or obligations of the commission, for which tolls, r ents, rate s, or othe r revenues shall hav e been ple dged, that the said Commonwealth and State will not authorize or permit the construc- tion, operation, and maintenance of any additional bridge or tunnel