The county port and harbor commission shall have the powers and duties vested in the county port authority or the county development commission by Chapter 9 of this Title. However, no county in which a county port and harbor commission has been created, as provided in this chapter, shall be entitled to receive any portion of the state ad valorem tax made available for port improvement purposes under the provisions of Section 59-7-103, unless and until such county has made application to the Mississippi Board of Economic Development, and such board shall first adjudicate and determine the feasibility of the project for which application for such funds is made, as provided in Section 59-7-103.