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FIDELITY UNION TRUST CO. v. N.J. HIGHWAY AUTH.

164 N.J. Super. 246 (1978)

395 A.2d 1280

FIDELITY UNION TRUST COMPANY, A BANKING CORPORATION OF THE STATE OF NEW JERSEY, AS TRUSTEE UNDER THE GENERAL BOND RESOLUTION OF THE NEW JERSEY HIGHWAY AUTHORITY ADOPTED JULY 8, 1953, AS SUPPLEMENTED: FIRST NATIONAL STATE BANK OF NEW JERSEY, A NATIONAL BANKING ASSOCIATION, AS TRUSTEE UNDER THE JUNIOR BOND RESOLUTION OF THE NEW JERSEY HIGHWAY AUTHORITY ADOPTED JULY 7, 1962, AS SUPPLEMENTED: MIDLANTIC NATIONAL BANK, A NATIONAL BANKING ASSOCIATION, AS TRUSTEE UNDER THE IMPROVEMENT BOND RESOLUTION OF THE NEW JERSEY HIGHWAY AUTHORITY ADOPTED JULY 27, 1971, AS SUPPLEMENTED, PLAINTIFFS, v. NEW JERSEY HIGHWAY AUTHORITY, A BODY CORPORATE AND POLITIC CREATED AND EXISTING UNDER AND BY VIRTUE OF CHAPTER 16 OF THE LAWS OF 1952, AS AMENDED AND SUPPLEMENTED, AND JOHN J. DEGNAN, ATTORNEY GENERAL OF THE STATE OF NEW JERSEY, DEFENDANTS.

Superior Court of New Jersey, Chancery Division.

Decided November 16, 1978.

Attorney(s) appearing for the Case

Mr. Kevin J. Coakley for plaintiff First National State Bank (Messrs. McElroy, Connell, Foley & Geiser, attorneys).

Mr. Robert Fischer for plaintiff Fidelity Union Trust Company (Messrs. Riker, Danzig, Scherer & Debevoise, attorneys).

Mr. Robert P. Hazlehurst, Jr., for plaintiff Midlantic National Bank (Messrs. Pitney, Hardin & Kipp, attorneys).

Mr. Arthur D. Grossman for defendant New Jersey Highway Authority (Messrs. Fox and Fox, attorneys; Mr. Fred L. Schwanwede on the brief).

Mr. John J. Degnan, Attorney General of New Jersey (Mr. Leonard A. Peduto, Jr. on the brief).

DWYER, J.S.C.

By cross-motions for summary judgment the parties to this declaratory judgment action seek to have determined whether L. 1973, c. 370 (N.J.S.A. 27:12B-4), prohibiting the issuance of bonds or adjusting of tolls without the prior written consent of the Governor and one other designated official and providing that the Governor shall have veto power over the minutes of the meetings of the New Jersey Highway Authority, is unconstitutional...

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