STATE ROADS 3337

Such tolls shall be so fixed and adjusted in respect of the aggregate of
tolls from the project or projects for which a single issue of revenue bonds
is issued, as to provide a fund sufficient with other revenues of such project
or projects, if any, to pay (a) the cost of maintaining, repairing and oper-
ating the project or projects unless such cost shall be otherwise provided
for, and (b) the bonds and the interest thereon as the same shall become
due, subject, however, to any applicable law or regulation of the United
States of America now in force or hereafter to be enacted or made. Such
tolls shall not be subject to supervision or regulation by any other State
commission, board, bureau or agency. The tolls and all other revenues
derived from the project or projects for which a single issue of bonds is
issued, except such part thereof as may be required to pay the cost of
maintaining, repairing and operating the project or projects and to pro-
vide such reserves therefor as may be provided for in the resolution author-
izing the issuance of the bonds or in the trust indenture, shall be set aside
at such regular intervals as may be provided in such resolution or such
trust indenture, in a sinking fund which is hereby pledged to, and charged
with the payment of (1) the interest upon such bonds as such interest shall
fall due, (2) the principal of the bonds as the same shall fall due, (3) the
necessary fiscal agency charges for paying principal and interest, and (4)
any premium upon bonds retired by call or purchase as herein provided.
The use and disposition of such sinking fund shall be subject to such regu-
lations as may be provided in the resolution authorizing the issuance of
bonds, or in the trust indenture, but, except as may otherwise be provided
in such resolution or trust indenture, such sinking fund shall be a fund for
the benefit of all bonds without distinction or priority of one over another.
Subject to the provisions of the resolution authorizing the issuance of
bonds or of the trust indenture, any moneys in such sinking fund in excess
of an amount equal to one year's interest on all bonds then outstanding
may be applied to the purchase or redemption of bonds. All bonds so pur-
chased or redeemed shall forthwith be cancelled and shall not again be
issued.

Notwithstanding any of the foregoing provisions of this section, the
Commission may, by resolution passed prior to the issuance of the bonds
or in the trust indenture covenant to pay the cost of maintaining, repair-
ing and operating any project or projects constructed or acquired under
the provisions of this sub-title, and, inasmuch as such project or projects
will at all times belong to the State, such resolution shall have the force
of contract between the State and the holders of the bonds issued for such
project or projects.

Upon the letting of a contract for the construction of a bridge or tunnel
under the provisions of this sub-title, it stall be the duty of the Commis-
sion to -proceed with the construction of any highways which may be
necessary to connect such bridge or tunnel with State highways and to
complete the construction of such connecting highways on or before the
date such bridge or tunnel shall be opened for traffic.

1937, ch. 356, sec. 114.

132. (Cessation of Tolls.) When the particular revenue bonds issued
for any project or projects and the interest thereon shall have been paid,
or a sufficient amount shall have been provided for their payment and
shall continue to be held for that purpose, the Commission shall cease to