The town council of the town of Westerly is hereby authorized and permitted to exercise its discretion to transfer and convey certain real estate to the Westerly Municipal Land Trust, without monetary consideration, provided that such real estate shall be of such character and condition as shall be appropriate of the purposes of said Land Trust, and provided further that such real estate shall be conveyed to said Land Trust with the express restriction that the same shall not be further transferred or conveyed to any other person or entity for value or otherwise, without the express approval of said town council, and, in the event of a sale, all procedures for the sale of municipal real estate shall be applied and the proceeds thereof shall be deemed the property of the town of Westerly.
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