Page:United States Statutes at Large Volume 50 Part 1.djvu/565

 540 75TH CONGRESS, 1ST SESSION-CH. 53o-JULY 28, 1937 States; (13) to borrow money, make and issue negotiable notes, bonds and other evidences of indebtedness or obligations of the Authority and to secure the payment of such obligations or any part thereof by pledge of any part of the revenue of the bridge and, (14) to do all other lawful things necessary and incidental to the foregoing powers. All property of the Authority and all property held in the name of either state pursuant to the provisions hereof shall be exempt from levy and sale by virtue of any execution and no execution or other judicial process shall issue against the same. No judgment against the A uthority shal l be lien upon its property held in the name of either state pursuant to the provisions hereof. No property now or hereafter vested in or held by either state, by any county, city, town, vil lage, distric t, town ship o r other munici pality thereo f shall be ta ken by the Authority without the authority and consent of the state. county, town, village, district or township or other municipality iii which it is located; nor shall anything impair or invalidate any bond, indebtedness of either state, any county, city, town, village. district or township or other municipality nor impair the provisions of law to regulate the payment into sinking funds of revenue derived from municipal pro perty or dedic ate the reven ues derived f rom any municipal property to a specific purpose. ARTICLE VI The Authority shall have such additional powers and duties as may hereafter be delegated to and imposed upon it from time to time by the action of the legislature of either state concurred in by the legis- lature of the other. Unless and until otherwise provided, it shall make a bien nial r eport t o the l egisla tures o f both states, setti ng fort h in detail the operations and transactions conducted by it pursuant to this agreement and any legislation thereunder. The Authority shall not pledge the credit of either state except by and with the expressed auth ority of the legisla ture th ereof. AR TIC LE VII Nothing in this agreement or compact is intended or shall be construed to affect the laws now exi sting which v est jurisdicti on over or control of railroads in the public service commission of the state of New Hampshire, or the publi c utilities c ommission of t he state of Maine, or the Interstate Commerce Commission of the United States or any agency of either state or the United States. ARTICLE VIII The Authority shall elect from its members a chairman, vice chairman, clerk and treasurer and may appoint such officers and employees as it may requi re for the pe rformance of i ts duties and shall fix and determine by resolution their qualifications and duties. ARTICLE IX Expenses incurred by the Authority in the interim between execu- tion of this agreement or compact and the date money received from grants, bonds or revenues shall be available shall be borne by the said two states in equal shares and shall be raised as each state shall determine. ART ICL E X Unless and until otherwise determined by the action of the legis- latures of the two states, no action of the Authority shall be binding unless taken a t a meeting a t which at le ast two member s from each