(a) Port authorities are authorized to accomplish the following general purposes:

(1) To establish, acquire, develop, improve, or maintain harbors, ports, river-rail terminals, barge terminals, parks for industrial and commercial operations, and related improvements and facilities in or near any city or incorporated town in the State of Arkansas as it may deem feasible for the expeditious and efficient handling of commerce by water, air, roadway, highway, or other from and to any other part of the State of Arkansas or any other states and foreign countries. The authority shall accept such proposal as is commercially reasonable and in the authority's best interest;

(2) To acquire, purchase, install, lease, own, hold, use, control, construct, equip, maintain, develop, and improve lands and facilities, of whatever nature necessary or desirable, in connection with establishing, developing, improving, and maintaining the ports, harbors, river-rail terminals, barge terminals, and parks for industrial and commercial operations including, without limitation, buildings, warehouses, utilities, and the improvement of portions of waterways, highways or roadways, and other facilities not within the exclusive jurisdiction of the federal government;

(3) To foster and stimulate the shipment of freight and commerce, whether by water, air, roadway, highway, or other, and industrial and commercial development at and through the ports, harbors, river-rail terminals, barge terminals, and parks for industrial and commercial operations and industries and businesses located on them, whether originating within or without the State of Arkansas, including the investigation, handling, and dealing with matters pertaining to all transportation rates and rate structures affecting them;

(4) To cooperate with the federal government, the State of Arkansas, and any agency, department, corporation, or instrumentality of either in the development, improvement, maintenance, and use of the harbors, ports, river-rail terminals, barge terminals, parks for industrial and commercial operations and industries and businesses located in them in connection with the furtherance of the operation and needs of the federal government, the State of Arkansas, and any such industry or business;

(5) To accept and use funds from any sources and to use them in such a manner as is within the purposes of the authorities;

(6) To cooperate with the State of Arkansas and all agencies, departments, and instrumentalities of it and with other port authorities, counties, municipalities, and political subdivisions in the maintenance, development, improvement, and use of the harbors, ports, river-rail terminals, barge terminals, and parks for industrial and commercial operations;

(7) To cooperate with any other state and all its agencies, departments, and instrumentalities and port authorities, counties, municipalities, political subdivisions, and all their instrumentalities and agencies in other states in the maintenance, development, improvement, and use of harbors, ports, river-rail terminals, barge terminals, and parks for industrial and commercial operations;

(8) To act as agent for the federal government or any agency, department, corporation, or instrumentality of it and for the State of Arkansas and any agency, department, instrumentality, or political subdivision of it in any matter pertaining to the accomplishment of the purposes of the authorities;

(9) To acquire, construct, equip, maintain, develop, and improve facilities at the ports, harbors, river-rail terminals, barge terminals, and parks for industrial and commercial operations to secure and develop industry, business, and commerce;

(10) To sell, lease, contract concerning, or permit the use of all or any part of the facilities so acquired, constructed, and equipped to any person for industrial or commercial activities; and

(11) In general, to do and perform any act or function which may tend to or be useful toward the development and improvement of harbors, ports, river-rail terminals, barge terminals, and parks for industrial and commercial operations and to further the movement of waterborne and other forms of commerce, foreign and domestic, through the harbors, ports, river-rail terminals, barge terminals, and parks for industrial and commercial operations.

(b) The enumeration of these purposes shall not limit or circumscribe the broad objectives and purposes of this chapter and the broad objectives of developing to the utmost the ports, harbors, river-rail terminals, barge terminals, and industrial and commercial development possibilities of the State of Arkansas, and its political subdivisions.