32:2-23.31 - Indemnification;  duties of lessees;  use of revenues or other  funds

32:2-23.31.  Indemnification;  duties of lessees;  use of revenues or other  funds
    The two states covenant and agree with each other and with the holders of the present and future obligations of the port authority that (a) the lessee of  buses or ancillary bus facilities leased, transferred or otherwise disposed of  pursuant to this act shall be required to defend and to provide for  indemnification, subject to appropriations or other funds, which are or become  legally available for this purpose, of the port authority against any liability  of whatsoever form or nature as may be imposed upon the port authority by  reason of the ownership, development, operation, maintenance, repair or use  thereof or arising otherwise out of the port authority's interest therein;  (b)  the lessee shall be required to provide for and be responsible for the proper  operation, maintenance, repair, and use of such buses and ancillary bus  facilities leased, transferred or otherwise disposed of pursuant to this act  and the port authority shall have no responsibility as to such operation,  maintenance, repair or use;  and (c) neither the states nor the port authority  will apply to any purpose in connection with or relating to the operation, maintenance, repair or use of such buses or ancillary bus facilities leased, transferred or otherwise disposed of pursuant to this act, other than purposes  in connection with the utilization of other port authority facilities by such  buses and passenger information purposes, any of the rentals, tolls, fares,  fees, charges, revenues, reserves or other funds of the port authority which  have been or shall be pledged in whole or in part as security for obligations  as security for which there may be or shall be pledged, in whole or in part,  the general reserve fund of the port authority.

     L.1979, c. 33, s. 5.