Disposition of Project Property. The Recipient agrees that disposition of its Project property may be made as provided in FTA’s enabling legislation, 49 U.S.C. § 5334(h), U.S. DOT Common Rules, and the most recent edition of FTA Circular 5010.1, to the extent consistent with applicable federal laws, regulations, requirements, and guidance. The Recipient understands and agrees that under certain circumstances, the Recipient must obtain disposition instructions from FTA before disposing of Project property, including real property, equipment including rolling stock, and supplies.
Disposition of Project Property. A. If the property is not continuously used for public passenger transportation in a manner similar to that intended by the application, the AGENCY shall immediately notify the DEPARTMENT. This provision shall also be triggered upon receipt of replacement equipment or facilities. The DEPARTMENT shall then determine whether the property should be transferred to another duly designated public transit system for continued use in public transportation. If the DEPARTMENT determines there is no need for the property, after making the equipment available for transfer, the DEPARTMENT may authorize local disposal. Upon receipt of such authorization, the AGENCY shall then dispose of such property, whether funded with state or federal assistance, in accordance with 49 CFR 18 (Appendix T). The following represents a summary of those provisions:
(1) If the property is "retained" by the AGENCY, the AGENCY shall reimburse the DEPARTMENT either an amount equal to the federal and or state financial interest in the fair market value of the property, based upon expert and objective appraisal, which value must be approved in writing by the DEPARTMENT, or, for federally funded projects, if required by FTA, an amount equal to the federal financial interest in the value of the property as determined through straight line depreciation from the original price.
(2) If the property is sold, it shall be sold by the AGENCY, at the highest price obtainable at public or private sale, subject to written approval of the sale price by the DEPARTMENT for capital items sold at greater than $5,000. The federal and or state financial interest in the net sale price (less expense of the sale) shall be paid to the DEPARTMENT, or, if required by FTA the amount paid to the DEPARTMENT shall be based on the federal financial interest in the value of the property as determined by straight line depreciation from the original price. Proceeds from disposal of capital property under $5,000 must be applied to the transit program.
B. If the property is not maintained in usable condition, it shall be considered to not be in continuous use for public transportation service under this paragraph.
Disposition of Project Property. With prior FTA approval, the Recipient may sell, transfer, or lease Project property and use the proceeds to reduce the gross project cost of other eligible capital public transportation projects to the extent permitted by 49 U.S.C. § 5334(h)(4). The Recipient also agrees that FTA may establish the useful life of Project property, and that it will use Project property continuously and appropriately throughout the useful life of that property.
Disposition of Project Property. The Recipient agrees that disposition of its Project property may be made as provided in FTA’s enabling legislation, 49 U.S.C. § 5334(h), U.S. DOT Common Rules, and the most recent edition of FTA Circular 5010.1, to the extent consistent with applicable federal laws, regulations, requirements, and guidance. The Recipient understands and agrees that under certain circumstances, the Recipient must obtain disposition instructions from FTA before disposing of Project property, including real property, equipment including rolling stock, and supplies. Disposition performed under any authority is subject to 49 U.S.C. § 5334(h)(4)(B) (“Reimbursement”).
Disposition of Project Property. The Recipient agrees that disposition of project property may be made as provided by FTA’s enabling legislation or U.S. DOT regulations:
(1) Disposition Under 49 U.S.C. § 5334(h).
Disposition of Project Property a. Pursuant to the NONEXPENDABLE PROPERTY Section of this Agreement, upon termination of this Agreement, Grantee is authorized to retain ownership of any nonexpendable property purchased under this Agreement; however, Grantee hereby grants to DEO a right of first refusal in all such property prior to disposition of any such property during its depreciable life, in accordance with the depreciation schedule in use by Grantee, Grantee shall provide written notice of any such planned disposition and await DEO’s response prior to disposing of the property. “Disposition” as used herein, shall include, but is not limited to, Grantee no longer using the nonexpendable property for the uses authorized herein; the sale, exchange, transfer, trade-in, or disposal of any such nonexpendable property. DEO, in its sole discretion, may require Grantee to refund to DEO the fair market value of the nonexpendable property at the time of disposition rather than taking possession of the nonexpendable property.
Disposition of Project Property. The State Recipient may use its own disposition procedures, provided that those procedures comply with the laws of that State, as authorized by 49 C.F.R. § 18.32(b). The Non-State Recipient agrees to dispose of Project property as follows: With prior FMCSA approval, the Non-State Recipient may sell, transfer, or lease Project property and use the proceeds to reduce the gross project cost of other eligible capital public transportation projects to the extent permitted by 49 U.S.C. § 5334(h)(4). The Non-State Recipient also agrees that FMCSA may establish the useful life of Project property, and that it will use Project property continuously and appropriately throughout the useful life of that property.
Disposition of Project Property. The Recipient understands and agrees as follows:
Disposition of Project Property. The State Recipient may use its own disposition procedures, provided that those procedures comply with the laws of that State. The Non-State Recipient agrees to dispose of Project property as follows: With prior FMCSA approval, the Non-State Recipient may sell, transfer, or lease Project property and use the proceeds to reduce the gross project cost of other eligible capital public transportation projects to the extent permitted by 49 U.S.C. §5334(h)(4). The Non-State Recipient also agrees that FMCSA may establish the useful life of Project property, and that it will use Project property continuously and appropriately throughout the useful life of that property.
Disposition of Project Property. The Grantee agrees that the State may establish the useful life of Project property, and that it will use Project property continuously and appropriately throughout the useful life of that property.
