Res 2001-032 - Laserfiche WebLink

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(f). The SUBCONTRACTOR may for the purpose of replacing property acquired under this Agreement, 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 Agreement with a current per-unit fair market value of $1,000 or more is no longer needed for the originally authorized purpose, CAPCO 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 Agreement by the SUBCONTRACTOR and with a current per-unit fair market value of $1,000 or more, the property is no longer needed for the originally authorized purpose, SUBCONTRACTOR agrees to request disposition instructions from the CAPCO or, if CAPCO is no longer administering a Regional Solid Waste Grants Program, the TNRCC. CAPCO shall, in turn, request authorization from the TNRCC to provide disposition instructions to the SUBCONTRACTOR. Disposition instructions shall solicit, at a minimum, information on the source and amount of funds used in acquiring the property, the date acquired, the fair market value and how the value was determined (e.g., by appraisal, bids, etc.), and the proposed use of the proceeds. The assessment of whether to authorize the proposed disposition of the property must include a determination that the disposition plan will comply with the private industry provisions of ~361.014(b) of the TEXAS HEALTH & SAFETY CODE ANN. In cases where SUBCONTRACTOR fails to take appropriate disposition actions, CAPCO may direct SUBCONTRACTOR to take excess and disposition actions. The disposition instructions may provide for one of the alternatives as set forth in this Section. 1. Retain title, sell, or otherwise disposed of with no obligation to compensate CAPCO. 2. Retain title after compensating CAPCO. If CAPCO is compensated by the SUBCONTRACTOR for property acquired using funds provided under this Agreement, CAPCO will in turn compensate the TNRCC or, upon authorization by the TN RCC, use those funds for other projects or activities that support this or similar future programs conducted by the TNRCC. The amount due will be computed by applying the percentage of state-funded participation in the cost of the original purchase to the fair market value of the property. 3. Sell the property and compensate CAPCO. If CAPCO is compensated the SUBCONTRACTOR for property acquired using funds provided under this Agreement, CAPCO will in turn compensate the TNRCC or, upon authorization by the TN RCC, use those funds for other projects or activities that support the goals of this or similar future programs conducted by the TNRCC. The amount due will be calculated by applying CAPCO's percentage of participation in the cost of the original purchase to the proceeds of the sale after deduction of any actual and reasonable selling and fixing-up expenses. jf the grant is still active, the net proceeds from sale may be offset against the original cost of the property. When SUBCONTRACTOR is directed to sell property, sales procedures shall be followed that provide for competition to the extent practicable and result in the highest possible return. CAPCO FY2001 Solid Waste Inter/ocal Contract 10