Sec. 404. Amendment to reversionary interests
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/bill/118/hr/3173/rh/section-404·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 2601(b)(4) of Public Law 111–11 (123 Stat. 1111) is amended by inserting after subparagraph (D), the following: The City may enter into an agreement to sell, lease, or otherwise convey all or part of the land described in subparagraph
(D)to third parties for economic development, recreation or other public purposes consistent with the Act of June 14, 1926 (commonly known as the Recreation and Public Purposes Act ) ( 43 U.S.C. 869 et seq. ). . The sale of any land under subsection
(a)shall be for not less than fair market value, and proceeds will be deposited in the account as described in section 407 of this title.
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- Pub. L. 111-11
- 123 Stat. 1111
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