PARK DIST-TRANSFER OF PROPERTY

Amends the Park District Code. Provides that real estate, not subject to a covenant to hold and maintain the property for public park or recreational purposes or not otherwise conveyed and replaced as provided in specified provisions, may be conveyed to another unit of local government or school district if the park district board approves the sale to the unit of local government or school district by a four-fifths vote and: (i) the park district is situated wholly within the corporate limits of that unit of local government or school district; or (ii) the real estate is conveyed for a price not less than the appraised value of the real estate as determined by the average of 3 written MAI certified appraisals or by the average of 3 written certified appraisals of State certified or licensed real estate appraisers. Effective immediately.