(a) A port authority may be created by one of the following means:
- (1) the governing body of a municipality may create by ordinance a port authority as a public corporation of the municipality;
- (2) the governing bodies of two or more municipalities may create by parallel ordinances adopted by each of the governing bodies a port authority as a public corporation of the municipalities.
- (b) One or more municipalities may join an authority established under (a)(1) or (2) of this section upon the adoption of parallel ordinances by the governing bodies of each affected municipality.
- (c) A port authority created under this section is a body corporate and politic and an instrumentality of the municipality or municipalities creating it but having a separate and independent legal existence.
- (d) Creation of a port authority under AS 29.35.600 — 29.35.730 is an exercise of a municipality's transportation system powers.
- (e) The enabling ordinance by which a port authority is established must specify the powers, boundaries, and limitations of the port authority.
- (f) An ordinance creating a port authority shall require approval by the voters of the municipality or municipalities participating in the authority in order for the authority to be established.
- (g) Nothing in AS 29.35.600 — 29.35.725 prevents a municipality or municipalities from creating or participating in a public corporation, including a port authority, in any form or manner not prohibited by law. However, the provisions of AS 29.35.600 — 29.35.725 only apply to and may only be utilized by a port authority created under this section.