Section 553-A. Additional powers in relation to Brooklyn Richmond project

1.  If and when the Port of New York authority (herein called the  "port
  authority") is authorized to make agreements with the authority relating
  to  the  construction,  ownership,  maintenance  and  operation  of  the
  Brooklyn Richmond project as a  bridge  (herein  sometimes  collectively
  referred  to  as  the  "Narrows  bridge  project")  and to acquire land,
  easements and rights in  land  necessary  or  convenient  therefor,  the
  authority  shall  have  power,  in  its discretion and subject to and in
  accordance with all contract provisions with respect to  any  bonds  and
  the rights of the holders of bonds to make such agreements with the port
  authority  on  such  terms  and  conditions  and  with such payments and
  considerations as the authority and the port authority shall deem in the
  public interest, as to any one or more of the following:
    (a) the acquisition of such land, easements and rights  in  land  for,
  and  the  design,  construction  and  financing  of,  the Narrows bridge
  project by the port authority, including the  payment  therefor  by  the
  authority  and the transfer of title thereto and the right of possession
  and use thereof, provided, however, that  the  agreement  shall  contain
  provisions  as to the land, easements and rights in land to be acquired,
  and that such provisions of such  agreement  shall  be  subject  to  the
  approval  of  the  mayor  of  the  city,  and provided further that such
  agreement shall provide that no other land, easements or rights in  land
  will be acquired for Narrows bridge purposes by the port authority.
    (b)  the  construction,  with  the  consent of the city, either by the
  authority or the port authority, of new parks,  parkways,  highways,  or
  improvements  to existing parks, parkways or highways, either connecting
  directly or indirectly with the Narrows bridge project, for the  purpose
  of  attracting  or  facilitating  traffic or improving approaches to and
  connections with such project, and the acquisition  of  land,  easements
  and rights in land therefor,
    (c)  leasing  the  Narrows bridge project, in whole or in part, by the
  authority from the port authority and the payment by  the  authority  of
  rents  or  other  payments therefor, and for the operation, maintenance,
  construction and reconstruction thereof by the authority pursuant to and
  to the extent provided by the terms of such agreement for leasing,
    (d) charging and fixing tolls, fees and rentals for the  use  of  such
  project,  sufficient  to provide for the payment by the authority of the
  costs of construction, maintenance and operation thereof and  all  rents
  and other payments under any such agreement for leasing, for the payment
  of the principal of and interest on any bonds or other obligations to be
  issued  by  the  authority to pay the cost of such project and all other
  payments to be made by the  authority  including  reserves  and  sinking
  funds  therefor,  in  accordance  with any such agreement for leasing or
  other agreement made between the port authority  and  the  authority  in
  connection with such project,
    (e)  securing  the  payment of rents and other payments under any such
  agreement  for  leasing,  or  other  agreement  made  between  the  port
  authority and the authority in connection with such project, by pledging
  such tolls, fees, rentals and revenues of such project and providing for
  the  use  and disposition of such tolls, fees, rentals and revenues, and
  for the setting aside of reserves or sinking funds  and  the  regulation
  and  disposition  thereof,  and,  subject  to and in accordance with all
  contract provisions with respect to any  bonds,  by  pledging  for  such
  security  tolls,  fees,  rentals  and  revenues  of  any  or  all of the
  projects,
    (f) limiting the construction by the authority of vehicular  crossings
  between Brooklyn and Richmond,

    (g)  acquiring  from  the port authority all or any part of the right,
  title and interest of the port authority in such project and the  lands,
  easements  and  rights  in  land  acquired  for such project by the port
  authority,
    (h) defining events of default under such agreement, fixing periods of
  grace  and  providing  rights  and  remedies  of  the parties in case of
  default thereunder including the right to terminate and  fix  the  terms
  and conditions for the termination of the same, and
    (i)  any  other  matters  of  like  or  different  character  for  the
  protection of the interest of the port authority or the authority or the
  respective holders of bonds thereof or the public with  respect  to  the
  acquisition,  construction,  reconstruction,  improvement,  operation or
  maintenance of the Narrows bridge project.
    2. The authority shall have power to do any acts or  things,  transfer
  such  rights  or  interests  and  execute and deliver such papers as the
  authority may deem necessary or  desirable  to  carry  out  any  of  the
  foregoing.
    3.  The  authority, so long as its corporate existence shall continue,
  shall  have  power  to  operate,  maintain,   construct,   improve   and
  reconstruct the Narrows bridge project and to exercise all of the powers
  herein  granted  to  the  authority  with  respect to the Narrows bridge
  project in connection with any agreements between the port authority and
  the authority or otherwise, and subject to  any  such  agreements  shall
  have  the  use  and  occupancy of any lands, easements or rights in land
  acquired in the name of the city for such project. The powers  conferred
  in  this  section  shall be in addition to and shall not limit the other
  powers conferred in this title.