The governor and council, upon petition and upon recommendation of the department of environmental services, and after consultation with the fish and game commission and such other state agencies as may be involved, may, for such consideration as they deem just, convey sand and gravel which is on the bed of any navigable water or great pond, in accordance with the provisions of this subdivision. For the purposes of this section great pond is defined as a public water of more than 10 acres.
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