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Agenda - 02-03-2009 - 6b
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Agenda - 02-03-2009 - 6b
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Last modified
3/21/2016 10:50:10 AM
Creation date
1/30/2009 3:34:02 PM
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BOCC
Date
2/3/2009
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
6b
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Minutes - 20090203
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\Board of County Commissioners\Minutes - Approved\2000's\2009
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36 <br /> such equipment remaining on the County's property shall be deemed abandoned; provided, <br /> however, that in the event the County subsequently makes productive use of such equipment, or <br /> leases or sells such equipment,then the County hall pay the University the Fair Market Value of <br /> such equipment <br /> 110. Fair Market Value. In the event the University elec ,,to offer for sale to the <br /> County all or any portion of the equipment comprising the LF', ollection System upon the <br /> expiration or termination of this Agreement, the Parties will r - in • d faith negotiations to <br /> determine the Fair Market Value of such equipment pursuant to this P• 'i 0. <br /> a. The term "Fair Market Value" shall mean the value I would be <br /> obtained for the equipment comprising the LFG Collection System that is <br /> the subject of the 0 z.K 's offer for sale in an arm's length transaction <br /> between an informed. .d ∎•■ z._ er under no compulsion to buy, and <br /> an informed and willing ' y er under ;`compulsion to sell,based upon the <br /> use of the University's LF t o ection System as an ongoing enterprise in <br /> its then current condition utilizing generally recognized professional <br /> a for the appraisal of industrial property used in the landfill gas <br /> bus' <br /> If the t ; a ty and the University cannot agree on a Fair Market Value for <br /> .pment comprising the LFG Collection System that is the subject of <br /> e University's offer for sale within thirty (30) Days following the <br /> initiation of good faith negotiations, then such Fair Market Value shall be <br /> mutually determined in an appraisal by an independent, qualified, <br /> 31 <br /> {00018638.DOC 21} <br />
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