(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 entit
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(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 such a meeting shall be published at least twice, with the first and last publication being at least 10 days apart, in a newspaper of general circulation within the Village. (c) This Section applies only to the exchange of Parcel One owned by the Village for Parcel Two owned by a nongovernmental entity as follows: PARCEL ONE: THAT PART OF SECTION 20, TOWNSHIP 37 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, ALL IN COOK COUNTY, ILLINOIS, DESCRIBED AS FOLLOWS: BEGINNING AT THE INTERSECTION OF THE SOUTH LINE OF THE SOUTHERLY 90 FOOT RESERVE STRIP OF THE ILLINOIS AND MICHIGAN CANAL AND THE NORTHEAST CORNER OF LOT 1 IN BLOCK 1 IN THE PLAT OF THE VILLAGE OF LEMONT, RECORDED AUGUST 8, 1874 AS DOCUMENT 184242; THENCE ALONG A LINE 141 FEET SOUTHWESTERLY ALONG THE SOUTH LINE OF THE SOUTHERLY 90 FOOT RESERVE STRIP OF THE ILLINOIS AND MICHIGAN CANAL; THENCE ALONG A LINE 79 FEET NORTHWESTERLY (AS MEASURED AT RIGHT ANGLES THERETO) AND PARALLEL WITH THE EASTERLY LINE OF BLOCK 1 IN SAID VILLAGE OF LEMONT SUBDIVISION, EXTENDED NORTHWESTERLY; THENCE ALONG A LINE 139 FEET PARALLEL WITH CANAL STREET; THENCE ALONG A LINE 63 FEET SOUTHEASTERLY TO THE POINT OF BEGINNING, ALL IN COOK COUNTY, ILLINOIS. PARCEL TWO: THAT PART OF SECTION 20, TOWNSHIP 37 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, ALL IN COOK COUNTY, ILLINOIS, DESCRIBED AS FOLLOWS: LOTS 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, AND THAT PART OF LOT 20 LYING EAST OF THE LEMONT ROAD BRIDGE, ALL IN BLOCK 1 IN THE PLAT OF THE VILLAGE OF LEMONT, RECORDED AUGUST 8, 1874 AS DOCUMENT 184242; ALL IN COOK COUNTY, ILLINOIS. PIN: 22-20-304-015; 22-20-304-18.