Common use of Ownership and Disposal of Assets Clause in Contracts

Ownership and Disposal of Assets. All park and recreation land, facilities, and equipment that are maintained, acquired, improved or otherwise used in connection with this Agreement are and shall remain the property of the City. No joint property ownership is contemplated under the terms of this agreement. Sale of City-owned park land or facilities remain subject to the restrictions contained in City Ordinance 118477, which adopted Initiative 42.

Ownership and Disposal of Assets. All park and recreation land, facilities, and equipment that are maintained, acquired, improved or otherwise used in connection with this Agreement are and shall remain the property of the City. No joint property ownership is contemplated under the terms of this agreementAgreement. Sale of City-owned park land or facilities remain subject to the restrictions contained in City Ordinance 118477, which adopted Initiative 42.