Use of sale proceeds

Act 18 of 1999, § 4, under PROJECT 500 LANDS - COMMONWEALTH PROPERTY IN LACKAWANNA COUNTY.

Act 18 of 1999, § 4

Section 4. Use of sale proceeds.

An amount of $28,500 from the sale proceeds of the lands described in section 2 shall be deposited into a special account established by the Borough of Dickson City for acquisition of replacement lands. The replacement lands shall be acquired by the Borough of Dickson City within four years of the effective date of this act and any funds remaining in the special account after the four-year period must be paid to the Commonwealth with 10% annual interest compounded four times annually.