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AgdaPkt 2008-11-10 Clsd and Reg
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AgdaPkt 2008-11-10 Clsd and Reg
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Last modified
12/11/2008 4:43:09 PM
Creation date
11/6/2008 4:00:15 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Regular
Agency Type
City Council
Date
11/10/2008
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<br />6.3A <br />Page 13 <br /> <br />ARTICLE XIII - DISPOSITION OF PROCEEDS FROM SALE OF PATROL BOAT <br /> <br />If the GRANTEE has contributed money other than GRANT funds to cover <br /> <br />the payment of PURCHASE COSTS, and in the event of a sale of the PATROL <br /> <br />BOAT after the expiration or termination of this CONTRACT or the <br /> <br />reversion of the PATROL BOAT to the DEPARTMENT, then the proceeds <br /> <br />of the PATROL BOAT sale shall be distributed between the DEPARTMENT and <br /> <br />the GRANTEE in proportion to their respective contributions in paying <br /> <br />the PURCHASE COSTS, e. g.: if the PURCHASE COSTS totaled $100,000 and <br /> <br />the GRANT contribution amounts to $60,000, then the DEPARTMENT would <br /> <br />recei ve 60% of the PATROL BOAT sale proceeds and the GRANTEE would <br /> <br />receive 40%. <br /> <br />7 <br />
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