Section 5. Restriction of revenue.
The proceeds from the sale of the lands described in section 2(a), or an amount of $50,000, whichever is greater, shall be deposited in a special interest-bearing account established by the City of Scranton. The special account shall be used to purchase lands within the City of Scranton along the Lackawanna River for the same purposes as defined in the act of June 22, 1964 (Sp.Sess., P.L.131, No.8), known as the Project 70 Land Acquisition and Borrowing Act. No funds shall be dispensed from the special account without approval by the Department of Community Affairs. Any funds remaining in the special account after five years from the effective date of this act shall be paid to the Commonwealth for deposit into the Project 70 Land Acquisition Sinking Fund.
Compiler's Note: The Department of Community Affairs, referred to in this section, was abolished by Act 58 of 1996 and its functions were transferred to the Department of Community and Economic Development.