Common use of Open Meetings and Public Records Clause in Contracts

Open Meetings and Public Records. The Operations Board will comply with applicable requirements of Chapter 132 and Article 33C of Chapter 143 of the General Statutes of North Carolina. Section VI. Property A. Property, which includes real and personal property purchased or owned by the City prior to January 1, 2008 and used by the Department shall remain the property of the City and shall not be subject to the provisions of Paragraphs B and C of this Section. Any property acquired pursuant to this Agreement that shall be owned by the City. Property acquired by the County for use by the Sheriff’s Office for the separate communications facility as provided by III.A is not considered to be acquired pursuant to this Agreement and shall be owned by the County and not subject to Subsections B and C. B. In the event this Agreement is terminated, the City shall purchase the County’s interest in property acquired pursuant to this Agreement and held by the City by making payment to the County an amount equal to the County’s percentage part of the Apportionment Ratio in place at the time of termination times the net depreciated value of such property (unless such property is sold under Subsection C.) C. As an alternative to Subsection B, in the event this Agreement is terminated, the City may sell any property acquired pursuant to this Agreement and held by the City. The choice of which property will be sold is in the City discretion. The proceeds of any such sales, after expenses of sale, shall be divided by the City and County in accordance with the Apportionment Ratio in place at the time of termination.