Such county port commission shall consist of seven (7) members to be appointed by the board of supervisors, one (1) of whom shall represent each of the supervisors districts of the county and shall be a resident of such supervisor’s district, and two (2) members shall be appointed from the county at large and be residents of the county. The two (2) at-large members shall be designated as post 1 and post 2. The initial terms of office of the members representing the supervisors districts shall expire as follows: District 1, July 1, 1974; District 2, July 1, 1975; District 3, July 1, 1976; District 4, July 1, 1977; District 5, July 1, 1978. The at-large members’ terms shall expire as follows: post 1 shall expire July 1, 1979, and post 2 shall expire July 1, 1981. All succeeding terms shall be for terms of five (5) years. Any vacancy occurring therein shall be filled for the unexpired term by appointment of the board of supervisors. Where such port commission has been established or may be established as herein provided, the said port commission shall undertake and perform the duties assigned to it by the board of supervisors, and said commission shall manage and control all port facilities which may be authorized and constructed by virtue of the terms and provisions of Sections 59-7-101 through 59-7-131, 59-7-201 through 59-7-213, and 59-7-501 through 59-7-519, and all appurtenant and physical properties connected therewith, both real and personal, and shall provide for the regular inspection, repair, maintenance and improvement of said port facilities as provided therein.

In addition to the authority granted herein, and notwithstanding the provisions of any other law to the contrary, the commission may, subject to the approval of the board of supervisors, purchase any existing railroad or railroad facilities, within or without such county, which it deems necessary for the development of its port facilities.

In addition to any other authority to borrow funds for the purposes of this chapter, the board of supervisors may borrow funds from any agency of the United States government on such terms as the board determines to be in the best interest of the county.

Any railroad or railroad facilities purchased under the provisions of this section may be operated by the county or others on behalf of the county, or may be leased to others by the county. The commission may establish, charge and collect any tariffs, rates or other charges in connection therewith as may be necessary or advisable to accomplish the purposes of this section.