Nonexpendable Property. 1. For the requirements of this Section of the Contract, "nonexpendable property" is the same as “property” as defined in section 273.02, F.S. (equipment, fixtures, and other tangible personal property of a non-consumable and nonexpendable nature, with a value or cost of $1,000 or more, and a normal expected life of one year or more; hardback-covered bound books that are circulated to students or the general public, with a value or cost of $25 or more; and hardback-covered bound books, with a value or cost of $250 or more).
Nonexpendable Property. 1. For the requirements of this Nonexpendable Property section of the Agreement, "nonexpendable property" is the same as “property” as defined in s. 273.02, F.S., (equipment, fixtures, and other tangible personal property of a non-consumable and nonexpendable nature.)
Nonexpendable Property. If the recipient plans to purchase nonexpendable equipment which would require the approval of the Agreement Officer, indicate below (using a continuation page, as necessary) the types, quantities of each, and estimated unit costs. Nonexpendable equipment for which the Agreement Officer's approval to purchase is required is any article of nonexpendable tangible personal property charged directly to the grant, having a useful life of more than one year and an acquisition cost of $5,000 or more per unit.
Nonexpendable Property. Nonexpendable property means leased and purchased tangible personal property, such as office equipment, having a useful life of more than one (1) year and/or an acquisition cost of $5,000 or more per unit. Nonexpendable property shall also include, but not be limited to real property, and any interest in real property (including any mortgage or other encumbrance of real property), and funds derived from the sale or disposition of nonexpendable property. Any utilization of funds derived from the sale or disposition of nonexpendable property must have prior approval of the County and otherwise comply with all applicable laws and regulations. In the event the Contract is terminated or expires, the County reserves the right to determine the final disposition of said nonexpendable property acquired for this project with FRHS funds, including funds derived there from. Said disposition may include taking possession of said nonexpendable property. The Operating Agency shall maintain up-to-date property records, listing all non- expendable property purchased with an acquisition cost of $5,000 or more that it has leased or purchased during the term of this Contract. The following items should be included in the list: description of property, serial or ID number, source of funds that purchased the item (including the contract number), owner of property, date of purchase, cost, percentage of cost paid with FRHS monies, location, condition and use of property, date of disposal, and sale price or method used to determine the current market value. The Operating Agency shall conduct a physical inventory of the nonexpendable property at least once a year, reconcile the inventory with its property records and maintain these records for five (5) years after the termination or expiration of this Contract. In the event there is a change of use or disposition of the property during the term of the contract, if the market value of the property is over $5,000, the Operating Agency shall immediately pay to the County a pro-rata share of the then current market value of the property, or proceeds from the sale. The pro-rata share shall be calculated by multiplying the then current market value by the percentage of the purchase price paid with FRHS funds or program income. If there is a residual inventory of unused supplies, upon termination or completion of the project or termination or expiration of this Contract, with a then current aggregate market value exceeding $5,000 and if t...
Nonexpendable Property. Loan Administrator is not authorized to use any funds provided under this agreement for purchase of any “nonexpendable property” (which is the same as “property” as defined in section 273.02, F.S.).
Nonexpendable Property. Any nonexpendable personal property acquired by the SUBRECIPIENT under this project shall be subject to the provisions of the Housing and Community Development Act of 1974 and its regulations, including, but not limited to, the provisions on use and disposition of property for a period of five (5) years after purchase. Applicable N/A
Nonexpendable Property. Nonexpendable property means leased and purchased tangible personal property, such as office equipment, having a useful life of more than one (1) year and/or an acquisition cost of $5,000 or more per unit. Nonexpendable property shall also include, but not be limited to real property, and any interest in real property (including any mortgage or other encumbrance of real property), and funds derived from the sale or disposition of nonexpendable property. Any utilization of funds derived from the sale or disposition of nonexpendable property must have prior approval of the LACDA and otherwise comply with all applicable laws and regulations. In the event the Contract is terminated or expires, the LACDA reserves the right to determine the final disposition of said nonexpendable property acquired for this project with BFH funds, including funds derived there from. Said disposition may include taking possession of said nonexpendable property. The Operating Agency shall maintain up-to-date property records, listing all non- expendable property purchased with an acquisition cost of $5,000 or more that it has leased or purchased during the term of this Contract. The following items should be included in the list: description of property, serial or ID number, source of funds that purchased the item (including the contract number), owner of property, date of purchase, cost, percentage of cost paid with BFH monies, location, condition and use of property, date of disposal, and sale price or method used to determine the current market value. The Operating Agency shall conduct a physical inventory of the nonexpendable property at least once a year, reconcile the inventory with its property records and maintain these records for five (5) years after the termination or expiration of this Contract. If there is a residual inventory of unused supplies, upon termination or completion of the project or termination or expiration of this Contract, with a then current aggregate market value exceeding $5,000 and if the supplies are not needed for any other LACDA sponsored program(s) or project(s), the Operating Agency shall immediately pay the LACDA for its pro rata share of the then current aggregate market value or proceeds from the sale calculated at the percentage of the purchase price paid with BFH funds. The Operating Agency shall obtain prior approval of the LACDA and otherwise comply with all applicable laws and regulations prior to utilizing the supplies for any other LAC...
Nonexpendable Property. 1. For the requirements of this Section of the Contract, "nonexpendable property" is the same as “property” as defined in section 273.02, F.S. (equipment, fixtures, and other tangible personal property of a non-consumable and nonexpendable nature, with a value or cost of $1,000 or more, and a normal expected life of one year or more; hardback-covered bound books that are circulated to students or the general public, with a value or cost of $25 or more; and hardback-covered bound books, with a value or cost of $250 or more). DocuSign Envelope ID: 5B347EDE-11C9-4678-B51E-6137BF2B8951
Nonexpendable Property. 1. Nonexpendable property means leased or purchased tangible personal property having a useful life of more than one (1) year and an acquisition cost of $300 or more per unit. Nonexpendable property includes, but is not limited to, office equipment, real property, any interest in, or encumbrance of such real property, and funds derived from the sale or disposition of nonexpendable property. Operating Agency shall obtain at least three (3) documented bids prior to purchasing nonexpendable property and agrees to purchase from the lowest responsible bidder. Purchase of property costing $1,000 or more per unit requires prior written approval of the City Administrator.
Nonexpendable Property. Nonexpendable property means leased or purchased tangible personal property, including, but not limited to a vehicle, office equipment, etc. having a useful life of more than one (1) year and an acquisition cost of $5,000 or more per unit. Nonexpendable property shall also include, but not be limited to, real property, any interest in real property (including any mortgage or other encumbrance of real property), and funds derived from the sale or disposition of nonexpendable property. Any utilization of funds derived from the sale or disposition of nonexpendable property must have prior approval of the City and otherwise comply with all applicable laws and regulations. In the event that the Agreement is terminated or expires, the City reserves the right to determine the final disposition of said nonexpendable property acquired for this project with CDBG funds, including funds derived there from. Said disposition may include taking possession of said nonexpendable property. The Operating Agency shall maintain up-to-date property records, listing all non- expendable property purchased with an acquisition cost of $5,000 or more that it has leased or purchased during the term of this Agreement. The following items should be included in the list: description of property, serial or ID number, source of funds that purchased the item including the Federal Award Identification Number (XXXX), which is B-20-MC-06-0525, owner of the property, date of purchase, cost, percentage of cost paid with Federal monies, location, condition and use of property, date of disposal, and sale price or method used to determine the current market value. The Operating Agency shall conduct a physical inventory of the nonexpendable property at least once a year, reconcile the inventory with its property records and maintain these records for five years
