Page:United States Statutes at Large Volume 59 Part 1.djvu/247

 59 STAT.] 79TH CONG. , 1ST SESS.-CH. 167-MAY 31, 1945 secure the bonds which are refunded, and the said commission is hereby authorized to continue to fix, charge and collect tolls for transit over the bridge or bridges in connection with which the bonds refunded were issued, until the bonds issued under the authority of article forty and interest thereon have been fully paid and discharged. Subject to the terms of any agreement made or to be made with holders of bonds issued by such commission under this agreement, or compact, the bonds issued under the authority of article forty shall be a lien upon the tolls and revenues of either of the bridges referred to as the Lake Champlain bridge or the Rouses Point bridge, or both, and in accordance with subdivision four of article twenty-six of the amendments to this agreement, or compact, any of such tolls and revenues which would otherwise have been payable into the state treasuries of the two states may be pledged to the payment of said bonds. 4. Said bonds 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. 5. Said bonds are hereby made securities in which all state and municipal officers and bodies, all banks, bankers, trust companies, savings banks, building and loan associations, savings and loan asso- ciations, investment companies and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all admin- istrators, executors, guardians, trustees and other fiduciaries, and all other persons whatsoever, who are now or may hereafter be authorized to invest in bonds or other obligations of each of the said states, may properly and legally invest any funds, including capital, belonging to them or within their control and said bonds are hereby made securities which may properly and legally be deposited with and shall be received by any state or municipal officer or agency for any purpose for which the deposit of bonds or other obligations of each of the said states is now or may hereafter be authorized. 6. Such commission shall have power out of any funds available therefor to purchase any bonds issued by it at a price not more than the redemption price thereof at the time of such purchase with accrued interest. ARncLE XLIII Such commission shall have the power to apply to the Congress of the United States, or any department of the United States, for con- sent or approval of this agreement, or compact, as amended, but in the absence of such consent by Congress and until the same shall have been secured, this agreement, or compact, as amended, shall be binding upon the state of New York when ratified by it and the state of Vermont when ratified by it without the consent of Congress to cooperate for the purposes enumerated in this agreement, or compact, and in the manner herein provided and for all purposes that it legally may be. IN WITNESS THEREOF, by and under authority of Chapter 142 of the Laws of 1941 of the State of New York, as amended by Chap- ter 758 of the Laws of 1945 of the State of New York, and by and under the authority of Public Act No. 201 of the Acts and Resolves of 1941 of the General Assembly of the State of Vermont, as amended by Senate Bill 81 (Act 194) of the Acts and Resolves of 1945 of the General Assembly of the State of Vermont, we have signed this Compact or Agreement, in duplicate, this 21st day of April, 1945, 229

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