§ 4. Such commission shall have power and authority over the survey,
development, control and operation of port facilities and such
facilities, operations or things as may be incidental or appurtenant
thereto, within such port district, and the co-ordination of the same
with existing or future agencies of transportation, with a view to the
increase and efficiency of all such facilities and the furtherance of
commerce and industries in the district; but nothing contained in this
section shall be held to prevent any railroad corporation from building
and developing its own facilities and road upon its own property in the
district at its own expense. All such construction by a railroad
corporation, however, shall conform to the general comprehensive plan of
the commission, for port development. It shall make a thorough
investigation of port conditions in the district and such other places
as it may deem proper and shall prepare a comprehensive plan for the
development of port facilities in such district. It shall be provided
with an office which shall be located by such commission within the port
district and it shall have power to equip the same with suitable
furniture and supplies for the performance of the work of the
commission. It shall (1) make an annual report of its proceedings and
deliver a copy of the same to the state superintendent of public works,
the state engineer and surveyor, the mayor, and the common council of
each municipality within the port district, the resident United States
army engineer, the chief of engineers of the United States army and the
secretary of commerce of the United States;

(2) submit to the governor, the chairman of the senate finance
committee, the chairman of the assembly ways and means committee and the
state comptroller, within ninety days after the end of its fiscal year a
complete and detailed report setting forth: (1) its operations,
accomplishments and plans; (2) its receipts and expenditures during such
fiscal year and its estimated receipts and expenditures for the current
fiscal year in accordance with the categories or classifications
established by the commission for its own operating and capital outlay
purposes; (3) its assets and liabilities at the end of its fiscal year
including the status of reserve, depreciation, special or other funds;
and (4) a schedule of its bonds and notes outstanding at the end of its
fiscal year, together with a statement of the amounts redeemed and
incurred during such fiscal year;

(3) submit to the governor, the chairman of the senate finance
committee, the chairman of the assembly ways and means committee and the
state comptroller within thirty days after receipt thereof by the
commission, a copy of the report of every external examination of its
books and accounts other than copies of the reports of such examinations
made by the state comptroller.