Section 711. Agreements of the state

1. The state of New York does pledge
  to and agree with the holders of bonds issued  pursuant  to  this  title
  that  the  state will not limit or alter the rights hereby vested in the
  authority to construct, maintain, reconstruct and operate the bridge, to
  establish and collect charges and tolls and to fulfill the terms of  any
  agreements  made with the holders of the bonds, or in any way impair the
  rights and remedies of the bondholders, until the bonds,  together  with
  interest  thereon, with interest on any unpaid installments of interest,
  and all costs and expenses in connection with any action  or  proceeding
  by or on behalf of the bondholders, are fully met and discharged.
    2.  The  state of New York does covenant and agree with the holders of
  bonds  issued  pursuant  to  this  title  that,  except  for  structures
  constructed  in  connection  with  the development of the Saint Lawrence
  seaway or of hydro-electric power, no tunnel, bridge, parkway, causeway,
  road, highway or other connection for vehicular traffic except for ferry
  transportation  which  will  be  competitive  with  the  bridge   herein
  authorized  will  be constructed or maintained until the bonds, together
  with interest thereon, with  interest  on  any  unpaid  installments  of
  interest,  and  all  costs and expenses in connection with any action or
  proceeding by or  on  behalf  of  the  bondholders  are  fully  met  and
  discharged;  provided  that  a  tunnel, bridge, parkway, causeway, road,
  highway or other connection for vehicular traffic shall be considered as
  competitive only if it shall form a  connection  for  vehicular  traffic
  between  the  state  of  New  York  and the province of Ontario, Canada,
  across the Saint Lawrence river within a distance of  twenty-five  miles
  from the bridge herein authorized.