ESTABLISHMENT OF AUTHORITY.

SEC. 405. ESTABLISHMENT OF AUTHORITY. (a) Consent to Interstate Agreement.—Congress grants consent to the Capital Region jurisdictions to enter into an interstate agreement or compact to establish the Authority and to designate the governance, powers, and duties of the Authority. The Authority shall be a non-Federal entity designated by the interstate agreement or compact. (b) Establishment of Authority.— (1) In general.—Upon execution of the interstate agreement or compact described in subsection (a) and an agreement between the Secretary and the Signatories as to the Federal 109 STAT. 630 share of the cost of the Project and the terms and conditions related to the timing of the transfer of the Bridge to the Authority as provided in section 407(c), the Authority shall be considered to be established for purposes of subsection (c). (2) General powers.—The Authority shall be a body corporate and politic, and an instrumentality of each of the Capital Region jurisdictions, having the powers and jurisdiction described in this title and such additional powers as are conferred on the Authority by the Capital Region jurisdictions, to the extent that the additional powers are consistent with this title. (c) Purposes of Authority.—The Authority shall be established— (1) to assume ownership of the Bridge; and (2) to undertake the Project.