Disposition of Expendable/Non-Expendable Personal Property. The Subrecipient must obtain written authorization from the City before disposing of an item of equipment with an original cost exceeding $1,000. All proceeds from the sale of property purchased with any of these federal funds must be returned to the City. The Subrecipient agrees the City may file the appropriate legal instrument(s) necessary to protect the City’s financial interest. All office equipment and other personal property purchased in whole or in part with funds pursuant to this contract and used for the administration of this contract or in the administration of a program operated by the City shall be the sole and exclusive property of the City unless otherwise specified in PART B. Upon expiration and/or termination of any on-ongoing Agreement, the Subrecipient shall immediately return to the City said office equipment and other property unless otherwise authorized by the City.
Appears in 6 contracts
Samples: Funding Agreement, Funding Agreement, Funding Agreement
