§ 1357. Real estate and title thereto. 1. The authority may lease or acquire title to real and personal property including water front property, ferries, bridges, wharf property, land under water, public landings, wharves and docks in the name of "Oswego port authority" by purchase, grant or gift from the city of Oswego, town of Scriba, state of New York, United States of America, or from any corporation or individual for the development of port facilities and industrial projects in the district, and shall have the power to sell, subject to approval by order of the supreme court, lease or otherwise dispose of said real property and shall retain and have the power to use the proceeds of sale, rentals or other moneys derived from the disposition thereof for its purposes. Any instrument affecting real property shall be signed by the chairman of the authority, attested by its secretary and have the seal of the authority affixed thereto.

1-a. Authority is hereby conferred upon the city of Oswego and the town of Scriba to give, lease, sell, grant and convey real and personal property including water front property, ferries, bridges, wharf property, land under water, public landings, wharves and docks to the authority, with or without consideration as such city or town shall determine.

2. The authority shall have power to condemn real property located within its territorial limits and owned by any person or corporation, excepting a person or corporation subject to the jurisdiction, supervision and regulation of the Public Service Commission, which the authority deems necessary for the development of port facilities and industrial projects in the district. The authority shall exercise the power of condemnation hereby granted in the manner provided in the condemnation law.

3. The authority and the city of Oswego may enter into contracts for the acquisition by the city or the authority of real property for the benefit of and in the name of the city of Oswego for the purpose of widening existing streets, avenues, parkways, roads or highways or for new streets, avenues, parkways, roads or highways to port facilities within the port district, or partly for such purpose and partly for other city purposes. Such contracts may provide for the work of improvement by the city. The city may close such streets, avenues, parkways, roads or highways as may be necessary or convenient.