Section 1. Release of restrictions in Bucks County.
(a) Authorization.--Pursuant to section 20(b) of the act of June 22, 1964 (Sp.Sess., P.L.131, No.8), known as the Project 70 Land Acquisition and Borrowing Act, and in accordance with the requirements in section 2 of that act, the General Assembly authorizes the Department of Conservation and Natural Resources to release Project 70 restrictions from the land owned by the West Rockhill - Sellersville Joint Recreation Authority, Bucks County, which is more particularly described in subsection (b), subject to the following conditions:
(1) The land must be sold for an amount equal to or greater than the fair market value of the land as established by a self-contained appraisal report prepared by a real estate appraiser certified under the act of July 10, 1990 (P.L.404, No.98), known as the Real Estate Appraisers Certification Act.
(2) The proceeds of the sale of the land must be deposited into an interest-bearing account established by the authority and designated solely for the purposes of the conditions under this subsection.
(3) The money in the account must be used by the authority for the sole purpose of improvements to the Holiday House Pool Complex in accordance with a plan preapproved in writing by the department.
(4) Within five years after the date of conveyance of the land by the authority, any money remaining in the account must be paid to the Commonwealth for deposit in the Keystone Recreation, Park and Conservation Fund. Failure to comply with this paragraph shall result in the amount of money in the account constituting a debt by the authority to the Commonwealth.
(b) Land subject to the release from Project 70 restrictions.--The land which is subject to the release from Project 70 restrictions in accordance with the provisions under subsection (a) is described as follows:
ALL THAT CERTAIN tract of land lying northeast of the intersection of Washington Avenue (T-348) and Holiday House Road (T-491) situate within the Township of West Rockhill, County of Bucks, Commonwealth of Pennsylvania, as referenced by "Exception Area" on the plan titled, "Holiday House Joint Recreation Authority TMP 52-014-145" dated March 13, 2012, prepared by C. Robert Wynn Associates, Inc., more particularly described as follows:
BEGINNING at a point, the western-most corner of lands now or late of Holiday House Joint Recreation Authority (TMP# 52-014-145), said point being at the approximate center line intersection of Washington Ave (T-348) and Holiday House Road (T-491), and being located North 52° 53' 46" West a distance of 939.58 feet from a railroad spike within the cartway of Washington Ave in line with adjoining lands now or late of Robert and Lucille Moore (TMP# 39-3-109); said point also being the PLACE OF BEGINNING; THENCE, in and along the cartway of Holiday House Rd North 34° 28' 46" East a distance of 169.70 feet to a point; THENCE, leaving the cartway of Holiday House Rd and extending in and thru lands now or late of Holiday House Joint Recreation Authority South 52° 53' 46" East a distance of 246.90 feet to a point; THENCE, continuing thru lands now or late of Holiday House Joint Recreation Authority South 37° 06' 14" West a distance of 169.52 feet to a point within the cartway of Washington Ave; THENCE, continuing along the cartway of Washington Ave North 52° 53' 46" West a distance of 239.13 feet to a point, the PLACE OF BEGINNING;
CONTAINING a calculated area of 0.9457 acres, more or less, of land.