The governing body of any county or municipality may raise, appropriate, set aside and devote money or property to the use of any port, harbor, bridge, or river commission created by the legislature and the governing body of such county or municipality may prescribe the terms and conditions upon which and in accordance with which the money or property so raised, appropriated, set aside or devoted shall be held and used by any such port, harbor, bridge or river commission.
N.J.S. § 40:14-2