§ 25. Interstate bridge commission. The commissioner of transportation or his duly authorized representative shall constitute the interstate bridge commission. Such commission shall, together with a similar board or commission from the commonwealth of Pennsylvania, constitute a joint commission to acquire the rights, franchises and property of the several bridge corporations, municipal corporations, companies, partnerships or individuals owning or operating toll bridges and including the bridge at Pond Eddy in the town of Lumberland, Sullivan county, owned by said town across the Delaware river between the state of New York and the commonwealth of Pennsylvania, except such as are owned by steam or electric railroads or railways and used exclusively for railroad or railway purposes. Such acquisition shall be either by purchase or to be had and effected by this state and the commonwealth of Pennsylvania under and by virtue of their respective rights of eminent domain, this state to pay one-half of the cost of the said bridges and one-half of the cost of acquiring them, and the other half of the cost of the said bridges and one-half of the cost of acquiring them to be paid by the commonwealth of Pennsylvania, or in lieu thereof, in proportion between the commonwealth of Pennsylvania, and the counties and municipalities thereof as the latter state may by appropriate legislation determine.