[Ord. No. 2006-1 §1, 1-23-2006]
For the purpose of this Article, the following terms, phrases, words and their derivations shall have the meaning given herein.
ACQUISITION VALUE OR INDIVIDUAL UNIT VALUEThe price of the item paid at the time of purchase by the City, including applicable taxes, freight and installation costs. Donated item or items otherwise furnished shall have their acquisition value estimated on the basis of the current market replacement value.
NON-EXPENDABLE PERSONAL PROPERTYAny tangible item of property not including land, permanent buildings or structures having a useful life of one (1) year or more. This includes any items attached to a permanent structure that can be removed or replaced and items that have been installed on other non-expendable property. An example is a radio installed on a vehicle. Both the radio and the vehicle must be identified separately.