A. Except as provided for in subsection B of this section, the municipality shall have jurisdiction over any real property within or without its corporate limits belonging to the municipality.

B. A municipality with a population of more than three hundred fifty thousand (350,000) persons, according to the most recent Federal Decennial Census, shall have jurisdiction over any real property within its corporate limits belonging to the municipality. The municipality shall have the authority to enact ordinances regulating real property belonging to the municipality that is outside the corporate limits of the municipality. Municipal property outside the corporate limits of the municipality shall be subject to state or municipal law and any violation of state or municipal law shall be prosecuted in the district court of the county or the municipal court of the local city where the violation occurred. Unless otherwise provided for by law, the municipality may regulate the banks, shores, and wharves of navigable streams within the corporate limits.