Section 1. Pursuant to the requirements of subsection (b) of section 20, 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 hereby authorizes the Ridgway Township Municipal Authority to transfer land in Ridgway Township, Elk County, Commonwealth of Pennsylvania to the National Forest Reservation Commission (Allegheny National Forest) in exchange for a parcel of land belonging to the National Forest Reservation Commission.
The land transferred by Ridgway Township Municipal Authority shall be free of restrictions on use and alienation prescribed by section 20 of the Project 70 Land Acquisition and Borrowing Act, upon:
(1) substitution of the Project 70 land for a parcel of land belonging to the National Forest Reservation Commission (Allegheny National Forest), the value of one being equal to the other. The parcel of land so acquired by the Ridgway Township Municipal Authority shall be subject to the restrictions on use and alienation prescribed by the Project 70 Land Acquisition and Borrowing Act; and
(2) the execution and filing of a document of release citing such transfer and release of the land transferred by the Ridgway Township Municipal Authority from the restrictions on use and alienation prescribed by subsection (b) of section 20 of said act. The document of release shall, upon such transfer, be prepared and filed in the office of the recorder of deeds of the county in which the said land is located.