LD 1161
pg. 9
Page 8 of 30 An Act to Create the East-West Highway Authority Page 10 of 30
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LR 1359
Item 1

 
credit of the State, but these bonds are payable exclusively from
the fund provided in this chapter for that purpose__from tolls or
other operating revenues.__All these bonds must contain a statement
on their face that the State is not be obligated to pay the same or
the interest on the bonds and that the faith and credit of the
State is not be pledged to the payment of the principal of or
interest or premium on those bonds.__The issuance of bonds or the
refunding of bonds under this chapter does not directly or
indirectly or contingently obligate the State to levy or to pledge
any form of taxation in connection with the issuing or refunding of
bonds or to make any appropriation for the payment of the bonds or
the interest or premium on the bonds.

 
4.__Semiannual report. The authority, on a semiannual basis,
shall present its report to the Legislative Council and send
copies to the joint standing committee of the Legislature having
jurisdiction over transportation matters, the commissioner and
the Office of Fiscal and Program Review. The report must include
a full, detailed description of the authority's activities for
the preceding fiscal half, including a detailed report of its
receipts and expenditures from all sources.

 
5.__Fair practices; affirmative action. The authority is
subject to and shall comply with Title 5, chapter 65.

 
§1993.__Property of authority; eminent domain

 
The authority may hold and acquire property as follows.

 
1.__Property of authority. All property of the authority and
all property held in the name of the State pursuant to the
provisions of this chapter is exempt from levy and sale by virtue
of any execution, and an execution or other judicial process is
not a valid lien upon property held pursuant to the provisions of
this chapter.__The authority may not lease, sell or otherwise
convey or allow to be used any of its real or personal property
or easements in that property, franchises, buildings or
structures that have access to any part of the East-West Highway
or its approaches for commercial purposes, with the exception of
those intermodal transportation facilities, kiosks at rest areas,
gasoline filling stations, service and repair stations, state and
tri-state lottery ticket agencies, automatic teller machines and
restaurants as it determines necessary to service the needs of
the traveling public that is using the East-West Highway, except
that the authority may permit the erection or installation of
electric power, telegraph, telephone, water, sewer or pipeline
facilities and provided that the leasehold interests in those
intermodal transportation facilities, kiosks, gasoline filling
stations, service and repair stations, state and tri-state
lottery ticket agencies, automatic


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