Page:United States Statutes at Large Volume 65.djvu/731

 65 STAT.]

PUBLIC LAW 242—OCT. 30, 1951

lease, mortgage, sell, transfer, and dispose of all property, real, personal, or mixed, tangible or intangible, or any interest therein acquired by the Authority, and to operate any of such properties for any lawful purpose; (e) to make bylaws for the management and regulation of its affairs; (f) to appoint officers, agents, employees, and servants, to prescribe their duties, and to fix their compensation; (g) to fix, levy, alter, charge, and collect tolls, charges, fees, or other considerations for the movement of persons and property over such bridges, causeways, and approaches; (h) to borrow money, make and issue negotiable notes, bonds, and other evidence of indebtedness of the Authority, and to secure the payment of such obligations or any thereof by mortgage, lien, pledge, or deed of trust, upon all or any of the property of the Authority, including the income and revenues thereof, and to make agreements with the purchasers or holders of such obligations or with others in connection with any such obligations, issued or to be issued, as the Authority shall deem advisable, and in general to provide for the security of said obligations and the rights of the holders thereof; (i) to make contracts of every kind and nature and to execute all instruments necessary or convenient for the carrying on of its affairs. SEC. 7. Without limiting any powers anywhere in this Act granted to the Authority, such Authority is hereby authorized to provide for the payment of the cost of the bridges, causeways, and approaches and the necessary lands, easements, and appurtenances thereto by an issue or issues of negotiable bonds of the Authority and to secure the payment of all or any of such bonds by mortgage, lien, pledge, deed of trust, or indenture upon all or any of its property or properties. Said bonds shall be authorized by resolution of the Authority, shall bear such date or dates, such interest rate or rates, be in such forms, and contain such provisions as the Authority may determine and which shall be provided in such resolution or in the mortgage, deed of trust, indenture, or other instrument securing said bonds, and shall be made to mature serially or otherwise over a period of not to exceed thirty years from the date of completion of the bridges, causeways, and approaches for the construction of which such bonds were issued. Any resolution or resolutions authorizing such bonds may contain provisions which shall be a part of the contract with the holders of such bonds with respect to: (a) The rates of tolls and other charges to be charged by the Authority for the movement of persons and property over such bridges, causeways, and approaches; (b) the registration of the bonds as to principal only or as to principal and interest and the interchangeability and exchangeability of such bonds; (c) the issuance of temporary bonds or interim receipts; (d) the redemption of the bonds and the price or prices at which they shall be redeemable; (e) the setting aside of interest and sinking funds for the payment of the interest on such bonds and the amortization of the principal thereof and of reserves for the protection of such bonds and the regulation and disposition thereof; (f) limitations upon the issuance of additional bonds; (g) the terms and provisions of any mortgage, deed of trust, indenture, or other instrument under which the bonds may be issued or by which they may be secured; and (h) any other or additional agreements which the Authority may arrive at with the prospective purchasers or holders of such bonds. The bonds shall be issued in the name of the Authority, signed by its Chairman, attested by its Secretary, and shall be registered by the duly constituted treasurer of the Authority, and coupon bonds shall have attached thereto interest coupons bearing the facsimile signatures of said Chairman and Secretary. Any such bonds may be issued and delivered notwithstanding the fact that one or more of the officers

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