Provides that a district may manage all lands, wharves, docks, and real and personal property it owns and controls that have been acquired from commercial waterway districts, for such purposes and upon such terms as the port commission deems proper. A district's management authority includes granting licenses, leases, and easements for such former commercial waterway district property. These properties are subject to all other statutes governing port district property.

Provides that a port commission may, by resolution, authorize the managing official of a port district to sell and convey port district property obtained by the district from a commercial waterway district. The district shall sell and convey such property in accordance with all applicable statutes governing the sale of port district property.