1998-116-RES WHEREAS, CITY COUNCIL DID HERETOFORE ON THE 13TH DAY OF APRIL

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Payment and Fiscal Managprnent and/or facilities (hereafter, "property") acquired under this Agreement will vest, upon acquisition or construction, in the Contractor. The use of property acquired under this Agreement, both during the term of this Agreement and for the useful life of the property, shall be in accordance with Section 361.014 (b) of the Texas Health and Safety Code Annotated, which directs that a project or service funded under this program must promote cooperation between public and private entities and may not be othelWise readily available or create a competitive advantage over a private industry that provides recycling or solid waste services. A TeOG shall conduct physical property inventories, to maintain property records and necessary control procedures, and to provide adequate maintenance with respect to all property acquired under this Agreement for which A TCOG retains title, as further set forth in Subsections (i) through (x) below. (i) A TCOG shall develop and use a property management system that conforms with all applicable state and loca/laws, rules, and regulations. If an adequate system for accounting for personal property is not in place or currently in use, the Property Accounting System Manual issued by the State of Texas General Services Commission shall be used as a guide for establishing such a system. A physical inventory of all property acquired or replaced under this agreement having an initial per unit purchase price of one thousand dollars ($1,000) or more, 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 A TCOG shall include adequate safeguards to prevent loss. damage. or theft of the acquired property. A TCOG 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 equipment or property is sold. All property acquired or replaced under this Agreement shall be used by A TCOG to support the purposes of this Agreement, for as long as the equipment or facilities are needed for such purposes, whether or not the original projects or programs continue to be supported by State funds. For property with a current fair market, per-unit value of five thousand dollars ($5,000) or less, ATCOG may for the pwpose of replacing the property acquired under this Agreement, either trade in o{sell the property and use the proceeds of such trade-in or sale to offset the cost of acquiring needed replacement property. For property with a current fair market, per-unit value in excess of five thousand dollars ($5,000), ATCOG shall, for the purpose of replacing the property acquired under this Agreement within six years of the initiation date of this Agreement, obtain written authorization from the TNRCC prior to trading in or selling the property and using the proceeds of such trade-in or sale to offset the cost of acquiring needed replacement property. Property with a current fair market, per-unit value of five thousand dollars ($5,000) II Page 15 of 45 , I .. "--,,- .-........-..-.....-.