CHAPTER 12
UNCLAIMED PROPERTY

SECTION:

1-12-1: Right To Sell

1-12-2: Notice Of Sale

1-12-3: Sale

1-12-4: Disposition Of Proceeds

1-12-1: RIGHT TO SELL:

Any personal property which is unclaimed and which remains in the custody of the city for more than sixty (60) days may be sold by the city at public auction as provided herein. (1974 Code § 1-1401)

1-12-2: NOTICE OF SALE:

Before holding such public sale, the city shall publish notice of such sale in the official newspaper for two (2) times and post a notice of such sale in three (3) public places in the city for a like period. Said notice stall contain a list of the property to be sold and briefly describe each article or piece of personal property to be sold and give the time and place of holding such sale, which time must be at least seven (7) days after the date of the last publication of the said notice in the newspaper. (1974 Code § 1-1402; amd. 2010 Code)

1-12-3: SALE:

The city may ask for written bids or sell the property at auction to the highest bidder, and shall have the right to reject any and all bids and sell the property at any one sale to one individual; and, it may do that which it deems to be most advantageous and of the greatest financial benefit to the city in selling the said personal property. (1974 Code § 1-1403)