(A) Any such property herein described shall be sold at public sale in accordance with the provisions of this chapter, provided that no such vehicle or trailer shall be so sold prior to the expiration of 30 days from the date of the notice given pursuant to § 94.07 of this chapter. At least ten days prior to such public sale, the city, through its designee, shall cause to be published a notice in a newspaper in general circulation within the county and the city stating that such property is being sold, the condition of such property, the location where it can be viewed and any information available concerning the make, model number, year, license number, serial number and any other necessary information to sufficiently describe the property in question.
(B) Such notice shall additionally set forth the terms of the sale and the location, date and time of said sale. A copy of this notice shall be mailed to the last registered owner of the vehicle or trailer and to any identified lienholder. On the date of the sale, such property shall be sold to the highest bidder for cash or certified funds, provided that any property not so sold for an amount sufficient to equal the city’s costs and other charges owed may be summarily disposed of at such sale for the best bid price available.
(C) The city shall provide a certificate of sale to the winning bidder, restricted to granting only that title held by the city, in duplicate, the original of which shall be given to the purchaser with a copy retained and deposited with the City Clerk. Any such certificate shall not guarantee title greater than that which is possessed by the city. Should the sale be invalid for any reason, the liability of the city shall be limited to a return of the bid price upon the return of the property in question to the city.
(D) The proceeds of sale shall be applied in the following order:
(1) First, to the reasonable costs incurred in the sale itself;
(2) Second, to the satisfaction of the special lien held by the city stemming from the costs and expenses so incurred by the city in its seizure;
(3) Third, to any indebtedness secured by a subordinate security interest or lien in the vehicle or trailer; and
(4) Fourth, to the registered owner of said property, or if such owner has not been identified, then any remaining monies shall be deposited to the General Fund of the city.
(Prior Code, § 15-516) (Ord. 2008-03, passed 7-7-2008)