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NO. 21. AN ACT RELATING TO AN EXCHANGE OF LANDS AND BLACK BEAR PROTECTION.

(H.224)

It is hereby enacted by the General Assembly of the State of Vermont:

Sec. 1. LAND EXCHANGE

(a) The commissioner of forests, parks and recreation is authorized:

(1) To enter into an exchange of land, provided the exchange is consummated no later than December 1, 1997, whereby the state shall convey approximately 1,050 acres of the Calvin Coolidge State Forest, in Sherburne, to Killington, Ltd., upon receipt by the state of approximately 2,948 acres of land owned by Killington, Ltd. in Sherburne and Mendon, which has an appraised value equal to or greater than the state-owned land being conveyed, plus acceptance by the state of the contribution by Killington, Ltd. as provided by subsection (b) of this section.

(2) To amend the lease agreement between the state of Vermont and Killington, Ltd. to reflect the change in the leasehold property boundaries resulting from the exchange authorized by this subsection.

(b) Notwithstanding section 5 of Title 32, the commissioner of forests, parks and recreation is authorized to accept on behalf of the state a contribution from Killington, Ltd. of $375,000.00 to be used by the commissioner pursuant to section 2606(a) of Title 10 to acquire conservation lands in the Killington region for the purposes of black bear protection. The contribution shall be deposited in a special administrative fund, which shall retain all earned interest for use for the same use as the principal amount. The fund shall be subject to the provisions of subchapter 5 of chapter 7 of Title 32.

Sec. 2. EXECUTION OF AGREEMENT

The power of the commissioner of forests, parks and recreation to enter into the land exchange authorized by Sec. 1 of this act is contingent on the execution of an agreement between Farm and Wilderness Corp. and Killington, Ltd. to secure water storage capacity from Woodard Reservoir for the purpose of snowmaking by Killington, Ltd.

Sec. 3. EFFECTIVE DATE

This act shall take effect on passage.

Approved: May 6, 1997