AN ACT ESTABLISHING "THE DELAWARE RIVER AND BAY AUTHORITY" THE AGENT OF THE STATES OF DELAWARE AND NEW JERSEY WITH RESPECT TO THE CONTROL, OPERATION, MAINTENANCE AND REVENUES OF THE DELAWARE MEMORIAL BRIDGE AND PROVIDING FOR THE TRANSFER OF CONTROL TO SAID AGENT.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Title 17, Delaware Code, is amended by adding thereto a new chapter to read as follows:
CHAPTER 18. DELAWARE RIVER AND BAY AUTHORITY
§ 1801. Definitions
(a) "Authority" means "The Delaware River and Bay Authority", established by compact between the States of Delaware and New Jersey.
(b) "Bridge" means the "Delaware Memorial Bridge", its approaches, appurtenances, property, equipment, revenues, funds, and personnel.
(c) "Compact" means the "Delaware-New Jersey Compact".
§ 1802. Agent for bridge
The Authority shall upon the effective date of this Act be the agent of the States of Delaware and New Jersey in connection with the construction, operation, maintenance, improvement and control of the said bridge which was constructed pursuant to legislation enacted by the States of Delaware and New Jersey and found in 45 Laws of Delaware, Chapters 274, 275, 334 and New Jersey Laws of 1946, Chapter 18.
§ 1803. Successors to the Delaware Interstate Highway Division
Except as herein provided, the Authority, as agent for said bridge, shall exercise, succeed to, perform and be bound by all the rights, powers, authority, duties and obligations, heretofore exercised by, performed by, or binding upon The Delaware Interstate Highway Division, as successor to the Delaware State Highway Department, in so far as they pertain to the said bridge.
§ 1804. Rights of holders of bridge bonds
Such agent's control of the said bridge shall be subject to the rights of the holders of the outstanding Delaware Memorial Bridge Revenue Bonds of the State of Delaware, issued (or in the process of issue prior to the effective date of this Act) under the authority of 45 Laws of Delaware, Chapter 275, as amended, and the State of Delaware covenants that the said bridge shall remain in the said agent's control so long as any of the said bonds shall remain outstanding or unpaid or until all said revenue bonds issued or in the process of issue under the authority of 45 Laws of Delaware, Chapter 275, as amended, have been paid in full or provision shall have been made for the payment thereof in the manner provided in the Indenture between the State Highway Department of the State of Delaware and Equitable Trust Company, dated June 1, 1948 and the Supplemental Indentures thereto, dated June 1, 1951, January 2, 1952, June 1, 1956 and June 1, 1960.
§ 1805. Control of bridge
At such time as all the Delaware Memorial Bridge Revenue Bonds issued pursuant to 45 Laws of Delaware, Chapter 275, as amended, have been paid in full or provision has been made for payment thereof as provided in the Indenture securing said bonds, the Authority, as agent, shall continue to hold, control, operate, maintain and improve the said bridge as a crossing, transportation facility or project in accordance with the provisions of the Compact entered into between the two States, establishing the said Authority, and the Authority as such agent shall deal with the bridge, its tolls and revenues as it is authorized, empowered and obligated to do by said Compact with respect to crossings, transportation facilities and projects as therein defined.
§ 1806. Audit; assumption of obligations
In order to provide for an orderly transition of bridge operations, upon the effective date of this Act, the Authority shall promptly arrange with The Delaware Interstate Highway Division for the preparation of an independent audit and accounting of its assets, liabilities and operations, and for fixing a date upon which the books and records of the said Division shall be closed and from and after which the Authority shall undertake the operation and control of the said bridge; and it shall at the same time provide for the assumption of all outstanding obligations of The Delaware Interstate Highway Division for the construction, maintenance, improvement and operation of the said bridge and shall take over all personnel, maps, books, records, revenues, funds and other assets relating thereto.
§ 1807. Severability
If any term or provision of this chapter shall be declared unconstitutional or invalid in whole or in part by a court of competent jurisdiction, then to the extent that it is not unconstitutional or invalid, such term or provision shall be enforced and effectuated; and no such determination shall be deemed to invalidate the remaining terms or provisions hereof.
§ 1808. Effective date
This chapter shall take effect upon the completion of the last of the following three events: (1) when the Delaware-New Jersey Compact takes effect and becomes binding upon the State of Delaware (2) when the State of New Jersey has enacted legislation having a substantial identical effect with this chapter and (3) when the Congress of the United States has enacted an amendment of 60 Stat. 533 having the effect of eliminating the requirement that the bridge shall become toll free upon payment of the outstanding bonds; if the above events have taken place, this chapter shall take effect immediately.
Approved July 21, 1961.