(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.”

17 Del. C. 1953, §  1801;  53 Del. Laws, c. 146.; 

The Authority shall upon the effective date of this chapter 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 Chapter 3 of this title and 45 Laws of Delaware, Chapters 274, 275, 334 and New Jersey Laws of 1946, Chapter 18.

17 Del. C. 1953, §  1802;  53 Del. Laws, c. 146.; 

Except as provided in this chapter, 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, insofar as they pertain to the said Bridge.

17 Del. C. 1953, §  1803;  53 Del. Laws, c. 146.; 

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 issued (or in the process of issue prior to the effective date of this chapter) under the authority of § 318 of this title, and the state 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 § 318 of this title 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 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.

17 Del. C. 1953, §  1804;  53 Del. Laws, c. 146.; 

At such time as all the Delaware Memorial Bridge Revenue Bonds issued pursuant to § 318 of this title 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 Compact entered into between the 2 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.

17 Del. C. 1953, §  1805;  53 Del. Laws, c. 146.; 

In order to provide for an orderly transition of bridge operations, upon the effective date of this chapter, 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.

17 Del. C. 1953, §  1806;  53 Del. Laws, c. 146.;