FTA Requirements and Guidance for Use of Project Property Sample Clauses
The 'FTA Requirements and Guidance for Use of Project Property' clause defines the rules and standards set by the Federal Transit Administration (FTA) regarding how property acquired with FTA funds must be used and managed. It typically outlines permissible uses of such property, mandates compliance with federal regulations, and may require recipients to maintain records or seek approval for certain uses or dispositions. This clause ensures that federally funded assets are used appropriately, remain dedicated to their intended public transportation purposes, and that any changes in use or ownership are properly controlled, thereby safeguarding federal investment and compliance.
FTA Requirements and Guidance for Use of Project Property. The Recipient agrees that:
FTA Requirements and Guidance for Use of Project Property. The CONTRACTOR agrees that:
(1) Satisfactory Continuing Control - It will maintain continuing control of the use of its project property as satisfactory to FTA, which is defined as the legal assurance that project property will remain available to be used for its originally authorized purpose throughout its useful life or until disposition.