(a) For the acquiring of rights-of-way and property necessary or desirable for the carrying out of their powers and for the accomplishment of the purposes of this chapter, port authorities shall have the right and power to acquire property by gift, by purchase, by negotiation, or by condemnation.
(b) If an authority determines to exercise the right of eminent domain, it may be exercised in the manner provided for taking private property for railroads as provided by §§ 18-15-1202 — 18-15-1207, in the manner provided by §§ 18-15-301 — 18-15-307, or in the manner provided by any other statutes enacted for the exercise of the power of eminent domain by the State of Arkansas, or by any of its officers, departments, agencies, or political subdivisions.
(c) Authorities may exchange any property acquired under this chapter for other property necessary or desirable in the carrying out of the powers of the authorities.