In all such counties, described in Section 59-7-201, upon and with the approval of the board of supervisors, the port commission shall have the power and authority to sell or lease any lands or easements acquired by any such county in conjunction with the establishment and construction of any port or harbor under the jurisdiction of said commission for the purposes of industrial development, but the terms and provisions of any such sales or lease shall include limitations as to the use of such lands and easements for industrial activities integrated to water transportation in accordance with the terms and provisions of such assurances of local cooperation as may have been given by virtue of Section 51-35-15 or Section 51-35-17, Mississippi Code of 1972, and the provisions of this article. Furthermore, said port commission, upon and with the approval of the board of supervisors, shall have the power and is hereby authorized, in its discretion, to sell and convey to the United States of America, without any limitations whatsoever, by general or special warranty deed or other acceptable form or conveyance, the full title to any lands acquired or held by any such county in connection with the establishment and development of any harbor or port project under the jurisdiction of said commission in exchange for the title to lands of the United States of America deemed useful for or needed by any county in connection with the establishment, enlargement, development, construction or maintenance of any port or harbor project under the jurisdiction of said commission, or for such other consideration as said commission and said board find to be adequate and sufficient. Said port commission, upon and with the approval of the board of supervisors of the county, is further hereby authorized to donate and/or sell and convey, without any limitations, upon such terms and conditions as may be deemed proper by the said commission and said board of supervisors, to the United States of America any of the lands needed by the United States of America for navigation and/or flood control purposes, or in fulfillment of any authorized assurances which have been given or which may be given by said county to the United States of America, or for the purpose of the display of the Gunboat Cairo.