32:9-2. Acquisition of toll bridges by joint commission; division of cost
The commission of the state of New Jersey, acting in conjunction with a similar board or commission of the state of Pennsylvania as a joint commission, may acquire the toll bridges crossing the Delaware river and the rights, franchises and property including the immediate approaches thereto, of the several bridge companies, corporations, stock companies, partnerships or persons owning and operating such bridges between this state and the state of Pennsylvania, except such as are owned by steam or electric railways or railroads and used exclusively for railway or railroad purposes, such acquisition to be either by purchase or to be had and effected by the state of New Jersey under and by virtue of its rights of eminent domain as set forth in this chapter.
One-half of the cost of the properties so acquired and of the cost of acquiring the same shall be paid by this state and one-half of such cost shall be paid by the state of Pennsylvania, including the allowance for the then present value of the franchise or right to operate any such bridge.