|HB2825 Enrolled||LRB102 12121 LNS 17458 b|
AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Illinois and Michigan Canal Development Act
is amended by adding Section 14.1 as follows:
(615 ILCS 45/14.1 new)
Exchange of property.
(a) Notwithstanding any other provision of law or
restriction on the property, including, but not limited to,
any State rights, easements, or conveyance and reversion
clauses restricting sale, the Village of Lemont may exchange
with a nongovernmental entity the Illinois and Michigan Canal
lands that were purchased from the State for other real
property of substantially equal or greater value, as
determined by 2 MAI appraisals of the properties, and of
substantially the same or greater suitability for
recreational, park, and parking purposes without additional
cost to the Village. However, the property being transferred
to the Village must be continuous to other Illinois and
Michigan Canal lands owned by the Village.
(b) Prior to an exchange under subsection (a) with a
nongovernmental entity, the Village board shall hold a public
hearing in order to consider the proposed exchange. Notice of