If the conduct of any port district function shall result in the production of any fill, waste, or by-product material which would otherwise have belonged to this state, specifically including, but not limited to, sand and gravel from the beds of navigable bodies of water and/or non-navigable bodies of water belonging to this state, the port district may use or sell the same, without regard to any other or conflicting provision of law relating to the ownership, regulation or disposition thereof, and for its lawful purposes, port districts shall have the right to remove sand, gravel and other material and by-products from the beds of navigable bodies of water belonging to the state and/or of non-navigable bodies of water belonging to the state whether now or hereafter submerged or dried up, without the necessity of paying compensation therefor.