Agenda - 05-01-1989 - Laserfiche WebLink

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Page 10 of 15 after notifying and receiving disposition instruction from the Department. Section 14. Disposition of Project Equipment, The Contractor shall dispose of all project equipment in accordance with General Statutes 143-64.1 through 143-64.5. The Contractor shall remit to the Department a proportional .amount of the fair market value of the project equipment, which shall be determined on the basis of the ratio of the financial assistance, both federal and State, provided by the Department to the actual acquisition cost of the project equipment. (a) Disposition of Equipment at the End of Useful Life. Fair market value shall be deemed to be the value of the property as determined by at least two (2) competent appraisals at the time of disposition. Loss of value as a result of negligence, maintenance practices of the Contractor, or other causes outside of normal use are the responsibility of the Contractor and may, at the discretion of the Department, be added to the fair market value. (b) Loss of Project Equipment Due to Casualty or Fire. Fair market value shall be deemed to be equal to the damages paid by the Contractor's insurance carrier or from the self-insured reserve account. In no event shall salvage value be considered as fair market value for project equipment. Section 15. Interest of Members of or Delegates to Congress. No member of or delegate to the Congress of the United States shall be admitted to any share or part of this Agreement or to any benefit arising therefrom. Section 16. Prohibited Interest. No member, officer, or employee of the Department or of the Contractor shall have any interest, direct or indirect, in this Agreement or the proceeds therefrom. Section 17. Equal Employment Opportunity. In connection with the execution of this Agreement, the Contractor shall not discriminate against any employee or applicant for employment because of race, color, sex, or