A.
There is established the Bridgeton Municipal Port Authority, in and for the City as a public body corporate and politic, pursuant to N.J.S.A. 40:68A-29 et seq., said Port Authority to be an agency and instrumentality of the City of Bridgeton.
B.
The purpose of said Port Authority shall be the establishment, development and improvement of a port district for port purposes, by exercise of the powers set forth herein, or established by the New Jersey Municipal Port Authorities Law, N.J.S.A. 40:68A-29 et seq., which shall include but not be limited to acquisition, construction, improvement, maintenance, operation or leasing of port facilities, to have responsibility for the establishment collection and enforcement of charges for the use of said port, as well as to arrange for financing for said port, by issuance of bonds or otherwise.