(1) Any city or cities situated in any county bordering on the Mississippi River and/or any such county, acting alone or jointly with any said city or cities, is and/or are hereby authorized and empowered, acting through its or their governing authorities, to acquire by purchase or otherwise, and to sell, lease or otherwise dispose of land situated in such county, either within or outside the corporate limits of such city or cities, for industrial purposes, or for river port and port facilities, for terminal and terminal facilities, and for landing and landing facilities, for storage and transportation of freight and passengers on the waters of the Mississippi River.

(2) For the purposes aforesaid, the said city or cities and/or county, acting alone or jointly, is and/or are authorized and empowered to borrow money and issue bonds, certificates of indebtedness, or notes as security therefor, in such form and amounts, and bearing such interest, not to exceed six per cent (6%) per annum, and maturities as may be determined by the governing authorities thereof, and to levy ad valorem taxes for payment of the principal and interest thereon.

(3) The said city or cities and/or county may pay for any property purchased under authority of this section from the general funds of the city or cities and/or county and/or the proceeds from the sale of any bonds, certificates of indebtedness, or notes issued for such purposes by the city, cities or county.

(4) The bonds, certificates of indebtedness, or notes provided for herein may be issued under and in the same manner, notice and conditions as is provided by any law authorizing said city or cities or county to issue the general full faith and credit bonds, or other evidences of indebtedness of said city or cities or county, and shall not be included in any limitation now imposed by law but may be in addition thereto.

(5) The land which may be purchased under authority hereof by any said city or cities, whether acting alone or jointly with said county, and situated outside of the corporate limits of said city or cities shall be located not more than seven miles from the line of the corporate limits of the city nearest thereto.

(6) Said city or cities or county, through its or their governing authorities, is and/or are hereby authorized and empowered to do and perform all acts and things necessary for the purposes hereof.

(7) This section shall be considered and is an alternative plan and authority supplemental to and in addition to any other law in effect dealing with and pertaining to the subject matter and provisions hereof, and shall not amend or repeal any existing law, but as aforesaid shall be and is an alternative plan and authority applicable to any city or cities within the class as herein provided for.