Transfer of City Facilities, Property and Other Assets Sample Clauses

Transfer of City Facilities, Property and Other Assets. All City Sewer System facilities, consisting of all pipes, lines, and pumps and other appurtenances thereto depicted on the map in Attachment B attached hereto and made a part hereof, including any updates or additions made to the City Sewer System between the date of this agreement and the Title Transfer Date, together with all other assets of the City of any kind, including all rolling stock, land tools and other equipment used to maintain the sewer system, as well as all inventory of pipe and other hardware, as set forth in Attachment C, attached, and other property and property rights contemplated herein, shall be conveyed to the PUD by appropriate Easement, Bill of Sale, Deed, Motor Vehicle Title and Assignment of Franchising Contract, or Grant from the City to the PUD on the Title Transfer Date. The Parties agree there will be a transfer of funds to the equipment repair and replacement fund of the City from the sewer fund for some equipment. Costs and expenses of all such transfers, including recording of any such documents necessary to transfer ownership of facility, easements, leases and other tangible and intangible property from the City to the PUD shall be borne by the PUD. After the Title Transfer Date, the PUD shall own and shall be responsible for the maintenance and operation of the facilities constituting the former City Sewer System, which should be made a part of the PUD sewer system. The PUD shall be entitled to receive all revenues as may be derived from the former City Sewer System. All the facilities and property to be acquired by the PUD pursuant to this agreement shall be used for the benefit of the people now or hereafter residing in PUD service area. The City presently maintains and operates an animal shelter at the City’s Sewer System facility. The City and PUD agree that the real property on which the animal shelter is located shall transfer pursuant to this Section 3. Notwithstanding, the City may continue to operate the shelter at this location until such time as the City elects to relocate the facility. In the event the shelter is relocated as contemplated herein, the vacated space and improvements shall transfer to the PUD for its use, at the PUD’s sole discretion.
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