SECTION 190.34. Equipment

(a) "Equipment" means tangible, nonexpendable personal property (including information technology systems) having a useful life of more than one year and an acquisition cost of $5,000 or more per unit.

(b) The grantee may use equipment paid for with OOG funds for any purpose consistent with the teaching and research mission of the institution, as long as the primary use of such equipment remains for grant-related purposes.

(c) The grantee shall not give any security interest, lien or otherwise encumber any item of equipment purchased with grant funds. The grantee shall permanently identify all equipment purchased under the grant by appropriate tags or labels affixed to the equipment. The grantee shall maintain a current inventory of all equipment, which shall be available to the OOG at all times upon request, however, the title for equipment will remain with the grantee.

(d) The grantee will operate, maintain, repair, and protect all equipment purchased in whole or in part with grant funds so as to ensure the full availability and usefulness of such equipment for the purposes of the GURI grant award. In the event the grantee is indemnified, reimbursed, or otherwise compensated for any loss of, destruction of, or damage to the equipment purchased with grant funds, it shall use the proceeds to repair or replace said equipment.

Source Note: The provisions of this §190.34 adopted to be effective February 4, 2016, 41 TexReg 776