Res 2016-051/Interlocal cooperation agreement with Capital Area Council of Governments for FY2016 Solid Waste Equipment and Servcies

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the applicable percentage share of the fair market value of the property, shall be in compliance with §361.014(b) of the TEXAS HEALTH & SAFETY CODE ANN., which directs that a project or service funded under this program must promote cooperation between public and private entities and may not be otherwise readily available or create a competitive advantage over a private industry that provides recycling or solid waste services. (e). The SUBCONTRACTOR may develop and use their own property management systems, which must conform with all applicable federal, state, and local laws, rules and regulations. If an adequate system for accounting for property owned by the SUBCONTRACTOR is not in place or is not used properly, the Property Accounting System Manual issued by the State Comptroller of Public Accounts will be used as a guide for establishing such a system. The property management system used by the SUBCONTRACTOR must meet the requirements set forth in this Section. 1. Property records must be maintained that include a description of the property, a serial number or other identification number, the source of the property, who holds title, the acquisition date, and the cost of the property, percentage of state participation in the cost of the property, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. 2. A physical inventory of all equipment acquired or replaced under this Contract shall be conducted no less frequently than once every two years and the results of such inventories reconciled with the appropriate property records. Property control procedures utilized by the SUBCONTRACTOR shall include adequate safeguards to prevent loss, damage, or theft of the acquired property. Any loss, damage, or theft shall be investigated. The SUBCONTRACTOR shall develop and carry out a program of property maintenance as necessary to keep both originally acquired and any replaced property in good condition, and to utilize proper sales procedures to ensure the highest possible return, in the event such property is sold. 3. revision. In accordance with the UGMS, the SUBCONTRACTOR should contact the Texas Property Accounting User Manual available on the Internet, for the most current listing. (f). The SUBCONTRACTOR may for the purpose of replacing property acquired under this Contract, either trade in or sell the property and use the proceeds of such trade-in or sale to offset the cost of acquiring needed replacement property. (g). The SUBCONTRACTOR agrees that if a determination is made that any property acquired with funds provided under this Contract with a current per-unit fair market value of $5,000 or more is no longer needed for the originally authorized purpose, CAPCOG has the right to require disposition of the property by the SUBCONTRACTOR in accordance with the provisions of this Article. (h). When, during the useful life of property acquired with grant funds under this Contract by the SUBCONTRACTOR and with a current per-unit fair market value of $5,000 or more, the property is no longer needed for the originally authorized purpose, SUBCONTRACTOR agrees to request disposition instructions from the CAPCOG or, if CAPCOG is no longer CAPCOG FY2016 В Solid Waste Interlocal Contract