(1) “Municipality” shall mean any city, borough, village, town, township, or any other municipality or agency thereof other than a county or a school district;

(2) “Governing body” shall mean the commission, council, board or body, by whatever name it may be known, having charge of the finances of the municipality;

(3) “Municipal port authority” shall mean a public body created or organized pursuant to this act;

(4) “Person” shall mean any person, association, corporation, nation, State or agency or subdivision thereof, or other entity, real or artificial, public or private, other than a county or a municipality or a municipal port authority;

(5) “Port district” shall mean the area within the territorial boundaries of a municipality which creates a municipal port authority;

(6) “Port system” shall mean all real and personal property acquired, constructed or operated or to be acquired, constructed or operated by a municipal port authority for the purposes of the municipal port authority, including piers, wharves, docks, bulkheads, slips, basins, anchorage areas, jetties, breakwaters, harbor craft of any kind, buildings, structures, warehouses, terminals, loading areas, plants, vehicular roadways, railroad connections and tracks, yards, sheds and every kind of terminal, storage or supply facility now in use or hereafter designed for use to facilitate shipping, the handling, storage, loading or unloading of freight or cargo at marine terminals, and all other franchises, property and rights therein and appurtenances thereto necessary or useful and convenient in connection therewith;

(7) “Cost” shall mean, in addition to the usual connotations thereof, the cost of planning, acquisition or construction of all or any part of a port system, and of all or any lands, property, rights, rights-of-way, easements and franchises deemed by a municipal port authority to be necessary or useful and convenient therefor, including interest or discount on bonds, cost of issuance of bonds, architectural, engineering and inspection costs and legal expenses, cost of financial, professional and other estimates and advice, organization, administrative, operating and other expenses of the municipal port authority, prior to and during such acquisition or construction, and all such other expenses as may be necessary or incident to the financing, acquisition, construction and completion of said port system or part thereof and the placing of the same in operation, and also such provision or reserves for working capital, operating, maintenance or replacement expenses or for payment or security of principal of or interest on bonds during or after such acquisition or construction as the municipal port authority may determine, and also reimbursements to the municipal port authority or any county, municipality or other person of any moneys theretofore expended for the purposes of the municipal port authority;

(8) “Real property” shall mean lands both within and without the State, above or below water, and improvements thereof or thereon, or any riparian or other rights or interests therein;

(9) “Construct” and “construction” shall include acts of construction, reconstruction, replacement, extension, improvement and betterment;

(10) “Bonds” shall mean bonds, notes or other obligations issued pursuant to this act;

(11) “Facility charges” shall have the meaning given to such term in this act; and

(12) “Local unit” shall mean any municipality which has created a municipal port authority.

L.1960, c. 192, p. 808, s. 3, eff. Feb. 15, 1961.