1. (a) Any district may acquire land or interests in land by purchase, lease, or otherwise, may convey the land or interest in the land by lease, installment sale, or otherwise, and may purchase, construct, enlarge, extend, repair, maintain, operate, develop, sell by installment sale, or otherwise, and lease as lessor or as lessee:

   1. (1) wharves and docks;
   2. (2) warehouses, grain elevators, other storage facilities, and bunkering facilities;
   3. (3) port-related railroads and bridges;
   4. (4) floating plants and facilities;
   5. (5) lightering, cargo-handling, and towing facilities;
   6. (6) everything appurtenant to these facilities; and
   7. (7) all other facilities or aids incidental to or useful in the operation or development of the district's ports and waterways or in aid of navigation and navigation-related commerce in the ports and on the waterways.
2. (b) To the extent that the district incurs indebtedness (bonded or otherwise) for purposes of financing the above facilities which in turn are sold by installment sale or otherwise, said indebtedness, principal and interest, may be paid only from the loan (or bond sale) proceeds and from revenues generated from the project financed by the indebtedness, and security for payment of the principal of and interest on said indebtedness shall be limited to a pledge of the project's revenues and the project's facilities including enlargements and additions thereafter made.

Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.

Amended by Acts 1983, 68th Leg., p. 411, ch. 84, Sec. 1, eff. May 10, 1983.