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| 1 | AMENDMENT TO SENATE BILL 1258
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| 2 | AMENDMENT NO. ______. Amend Senate Bill 1258 on page 10, by | ||||||
| 3 | replacing lines 12 through 19 with the following: | ||||||
| 4 | "Section 10. Conditions on transfer. | ||||||
| 5 | (a) The conveyances of real property authorized by Section | ||||||
| 6 | 5 shall be made subject to: (1) existing public utilities, | ||||||
| 7 | existing public roads, and any and all reservations, easements, | ||||||
| 8 | encumbrances, covenants and restrictions of record; (2) the | ||||||
| 9 | express condition that within one year after conveyance, the | ||||||
| 10 | Fox Waterway Agency shall: sell the real property for no less | ||||||
| 11 | than fair market value; use any proceeds from the sale to | ||||||
| 12 | purchase of an alternate dredge material disposal site or sites | ||||||
| 13 | for no more than fair market value; and transfer any proceeds | ||||||
| 14 | remaining after the purchase of an alternate dredge material | ||||||
| 15 | disposal site or sites to the Department of Natural Resources | ||||||
| 16 | for deposit into the General Revenue Fund; and (3) the | ||||||
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| 1 | requirements of subsection (b) of this Section. | ||||||
| 2 | (b) If, after one year following the conveyances of the | ||||||
| 3 | real property under Section 5, the Fox Waterway Agency has | ||||||
| 4 | failed to comply with the express condition set forth in item | ||||||
| 5 | (2) of subsection (a), the real property shall revert to the | ||||||
| 6 | State of Illinois, Department of Natural Resources, or, if | ||||||
| 7 | applicable, the proceeds from the sale of the conveyed property | ||||||
| 8 | shall be immediately transferred to the Department of Natural | ||||||
| 9 | Resources for deposit into the General Revenue Fund.
If any | ||||||
| 10 | property purchased with proceeds from the sale of the conveyed | ||||||
| 11 | property is not used as a dredged material disposal site within | ||||||
| 12 | 2 years following the conveyances under Section 5 or if at any | ||||||
| 13 | time the property ceases to be used for public purposes, the | ||||||
| 14 | Fox Waterway Agency shall convey by quitclaim deed the property | ||||||
| 15 | to the Department of Natural Resources for $1.
As used in this | ||||||
| 16 | Section, "fair market value" means the average of 3 appraisals | ||||||
| 17 | plus the costs of obtaining the appraisals.".
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