Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1. The town of Rowley, acting through its conservation commission, may convey a parcel of land containing 16,204 square feet of land to the Perley Marina Realty Trust and currently held in conservation by the town and the conservation commission under section 8C of chapter 40 of the General Laws and described in section 2 in return for the conveyances by the Perley Marina Realty Trust and one Lynda M. Kubik to the town of two parcels of land, one containing five acres and described in section 2 to be held and used for conservation purposes and one containing 3,544 square feet of land and described in section 3 to be used only for purposes appurtenant to the landing and launching ramp owned by the town on the Rowley river.

SECTION 2. The parcel to be conveyed to the town of Rowley through its conservation commission by the Perley Marina Realty Trust is five acres in size and is shown as Parcel-3 on a plan of land entitled "Plan of Land in Rowley, Massachusetts Prepared for Town of Rowley", in this act called "the plan", drawn by AA Associates, dated June 15, 1998 and to be recorded with the several deeds described in this act. This parcel shall be used for conservation purposes.

SECTION 3. The additional parcel to be conveyed to the town of Rowley is approximately 3,544 square feet in size, fronts on the Rowley river and is shown as Parcel-1 on the plan. This parcel shall be used only for purposes related to the maintenance and use of the town of Rowley's landing and launching ramp and facilities located next to the parcel on the Rowley river.

SECTION 4. The parcel to be conveyed by the town of Rowley to the Perley Marina Realty Trust contains approximately 16,204 square feet of land and is shown as Parcel-2 on the plan.

SECTION 5. The conveyance described in this act is authorized if the value of Parcel-2 is equal to or less than the combined values of Parcel-1 and Parcel-3 as shown by professional appraisals prepared for the town of Rowley. The inspector general shall review and comment on the appraisals and the appraisal and comment shall include an examination of the methodology utilized for the appraisals. The town of Rowley shall, 30 days prior to the execution of any deed conveying said Parcel-2, submit to the inspector general the deeds together with the proposed deeds to Parcel-1 and Parcel-3 to be exchanged for Parcel-2. The inspector general shall prepare a report of his review of the deeds and file the report with the house and senate committees on local affairs at least 15 days prior to the execution.

SECTION 6. The town of Rowley shall pay for the preparation of the deeds and appraisals necessary to effectuate the transaction authorized by this act.

SECTION 7. This act shall take effect upon its passage.