Section 1. Authorization of Transfer; Conditions.--Pursuant to the requirements of section 20(b), act of June 22, 1964 (Sp. Sess., P.L.131, No.8), known as the "Project 70 Land Acquisition and Borrowing Act," the General Assembly authorizes the Board of the Schuylkill County Municipal Authority to transfer the hereinafter described land in New Castle, Ryan and Blythe Townships, Schuylkill County, to Crown American Corporation in exchange for a certain parcel of land containing the Mud Run Dam.
Such land shall be free of the restrictions on use and alienation prescribed by section 20, act of June 22, 1964 (Sp. Sess., P.L.131, No.8), known as the "Project 70 Land Acquisition and Borrowing Act," upon:
(1) completion of the exchange transfer to the authority of a certain parcel of land containing the Mud Run Dam; and
(2) execution and filing of a document of exchange and release, citing such exchange and release of the said land from the restrictions on use and alienation prescribed by section 20(b) of said act.