1. The state of New Jersey hereby consents to the state of New York making separate
adjustment and liquidation of any claim, lien, debt or other obligation arising under
said statutes in favor of the state of New York by reason of appropriations made and
moneys made available by said state to the authority for the construction of said
bridge, upon condition, however, that similar consent be given by the state of New
York to similar privilege on the part of the state of New Jersey to the making of
separate adjustment and liquidation of such claim, lien, debt or other obligations
arising under said statutes in favor of the state of New Jersey, and upon further
condition that such adjustment and liquidation of the claim or claims of the state
of New York be made by the delivery by the authority, to the state of New York, of
the authority's bond or bonds in a principal amount not greater than five-ninths of
the sums actually appropriated and made available in cash to the authority by the
state of New York, which bond or bonds shall be payable not earlier than March first,
one thousand nine hundred and forty-one, and shall bear interest at the rate of not
more than three per cent (3%) per annum.
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