Page:United States Statutes at Large Volume 49 Part 1.djvu/785

 740 74Tir CON GRES S. SESS. I. CH. 625. . AUGUST 23, 1935. Agreement-contd. (b) Bring suit upon said bonds ; (c) By acti on or s uit in e quity, require such Co mmission to account as if it were the trustee of an express trust for the holders of said bonds ; (d) By action or suit in equity enjoin any acts or things which may be unlawful or in violation of the rights of the holders of said bonds ; (e) Declare all said bonds due and payable, and if all default shall have been cured, annul such declar ation and its consequence s. 3 . The supreme court of the State of New York and the court of chancery in and for the county of Grand Isle and the county court of Grand Isle County in the State of Vermont, each within the limits of its jurisdiction over persons and property, shall, respec- tively, have jurisdiction of suits, actions, and proceedings by the trustees on behalf of the bondholders. The venue of any such suits, actions, or proceedings in New York, shall be laid in Clinton County and in Vermont in Grand Isle County. Service of process of any of such courts upon any member of such Commission shall constitu te serv ice on s uch Com mission. 4. Before declaring the principal of all such bonds due and pay- able the trustees shall first give thirty days' notice in writing to a member of such Commission. 5. Any such trustee shall, whether or not all said bonds have been declared due and payable, be entitled as of right to the appointment of a receiver and ancillary receiver, who may enter and take possession of the bridges or any part or parts thereof and operate and maintain the same and of any and all other property of the commission and collect and receive all tolls, rentals, and other revenues thereafter arising from said bridges and property in the same manner as the bridge authority itself might do and shall deposit all such moneys in a separate account and apply the same in such manner as the court shall direct. The court of the State to which application is first made therefor shall have juris- diction to appoint the receiver and the court of the State to which application is thereafter made shall have jurisdiction to appoint the ancillary receiver. In any suit, action, or proceedings by the trustee the fees, c ounsel fees, and expenses of the trustee and of th e receiver and ancill ary receiver, if any shal l constitute taxable dis- bursements and all costs and disbursements allowed by the court shall be a first charge on any tolls, rentals, and other revenues derived from the bridges. 6 . Said trustee shall in add ition to the foregoing ha ve and possess all of the powers necessary or appropriate for the exercise of any functions specifically set forth herein or incident to the general representation of the holders of said bonds in the enforcement and protection of their rights. ARtiCLE XXVIII The bonds and other obligations of such Commission shall not be a debt of the State of New York or of the State of Vermont and neither State shall be liable thereon, nor shall they be payable out of any funds other than those of such Commission. ARTICLE XX IX The bonds authorized by article 26 hereof shall be exempt from taxation except for transfer, estate, and inheritance taxes and are hereby made securities in which all public officers and bodies of each State and all municipalities and municipal subdivisions, all