Sale of property

Act 228 of 2002, § 5, under PROJECT 70 LANDS - NORTHUMBERLAND COUNTY RELAEASE AND IMPOSITION OF RESTRICTIONS.

Act 228 of 2002, § 5

Section 5. Sale of property.

(a) Consideration.--Northumberland County may not sell the property described in section 2 for less than fair market value as determined by an independent appraisal.

(b) Proceeds.--The proceeds from the sale of the land described in section 2 shall be used by Northumberland County to pay the mortgage on the land described in section 3. Upon full payment of the mortgage, the balance of the sale proceeds shall be deposited into a special account established by Northumberland County and used exclusively by the county for recreational improvements to the land described in section 3.