NON-EXPENDABLE PERSONAL PROPERTY. You must receive written authorization from the City prior to purchasing tangible personal property having a useful life of more than one year with an acquisition cost of $5,000 or more per unit ("Personal Property"), or as otherwise determined by the Department. All Personal Property will be the property of the City. You must maintain a current inventory listing of Personal Property and must deliver a copy of the listing to the City annually. You must receive written authorization from the City before using funds under this Agreement to improve or purchase real property. When this Agreement expires or is terminated, you must return to the City (a) the balance of any funds received under this Agreement and any accounts receivable attributable to those funds and (b) all Personal Property. However, upon receipt of the final inventory of all Personal Property, the City may elect to allow Personal Property to remain in your possession if the City, in its sole discretion, determines that the Personal Property is necessary for the performance of any new or other services by you for the City.
Appears in 10 contracts
Samples: Associate Agreement, Associate Agreement, Associate Agreement
