In the event that any county, city, town or port mentioned in ORS § 381.205 has purchased or acquired or agreed to purchase or acquire any ferry which is being operated in carrying passengers and freight over and across any interstate river or stream at or in proximity to the site or location of a bridge constructed or to be constructed under ORS § 381.205 to 381.314, the authority constructing the bridge may:

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(1) Enter into an agreement with the political subdivision which has acquired or agreed to acquire the ferry, succeeding to its rights upon such terms and conditions as may be mutually agreed to by the interested parties.

(2) Operate the ferry free to the public or on tolls. If operated on tolls the revenues derived therefrom may be pledged and revenue bonds issued and sold in the same manner as provided in ORS § 381.230 and 381.235 for the pledging of the tolls received from bridges and issuing revenue bonds thereon and therefor.