Section 533. Agreement of the state

The state of New York does pledge to
  and agree with the holders of any bonds or notes that the state will not
  authorize the construction or  maintenance  of  any  additional  highway
  crossings  for vehicular traffic over, under or across the waters of the
  Hudson river in addition to the bridges authorized by this  title  which
  will  be  competitive  with  the bridges, nor will it limit or alter the
  rights hereby vested in the authority  to  establish  and  collect  such
  charges  and  tolls  as  may  be  convenient  or  necessary  to  produce
  sufficient revenue to meet the expense of maintenance and operation  and
  to fulfill the terms of any agreement made with the holders of the bonds
  or notes, or in any way impair the rights and remedies of bondholders or
  noteholders,  until the bonds and notes, together with interest thereon,
  with interest on any unpaid installments of interest, and all costs  and
  expenses  in  connection with any actions or proceedings by or on behalf
  of the bondholders or noteholders, are fully met and discharged. For the
  purposes of this section, any  such  crossing  shall  be  considered  as
  competitive  only  if  it  shall form a connection for vehicular traffic
  over, under or across the Hudson river south of a line drawn across  the
  Hudson river fifteen miles north of the Rip Van Winkle bridge, and north
  of the Bear Mountain bridge.