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A. The purpose of this part is to provide a supplementary procedure for the administration and disposition of unclaimed property which is in the possession of or under the control of the executive and administrative branch of the City or disposition of which is not otherwise provided for by this Code, City ordinances, resolutions, contracts, agreements or Utilities deposits which are governed by State law.
B. This part shall not apply to tangible or intangible unclaimed property the administration and disposition of which is governed by other provisions of this Code or governed by City ordinances, resolutions, contracts, or agreements, or Utilities deposits which are governed by State law. (Ord. 11-18)
DIRECTOR: For all unclaimed property that is held by or under the control of the City but is not held by or under the control of Utilities or MHS Enterprise, Director shall mean the Mayor, or the Mayor's designee. For unclaimed property held by or under the control of Utilities, Director shall mean the Chief Executive Officer of Utilities. For property held by or under the control of MHS Enterprise, Director shall be the Chief Executive Officer of MHS Enterprise.
OWNER: A person or entity, including a corporation, partnership, association, governmental entity other than the City or a duly authorized legal representative or successor in interest which owns unclaimed property held by the City.
UNCLAIMED PROPERTY: Any tangible property or intangible property as defined in Colorado Revised Statutes section 38-13-102(7) including any income or increment derived from the property, less any lawful charges, that is held by or under the control of the City, and except as provided by the City Code, which has not been claimed by its owner for a period of more than two (2) years after it became payable or distributable. (Ord. 11-18; Ord. 15-62; Ord. 18-41)
A. Prior to the disposition of any unclaimed property, the Director shall send a written notice by regular mail to the last known address, if any, of any owner of unclaimed property. The last known address of the owner shall be the last address of the owner as shown by the records of the City group, department or agency holding the property, Utilities or MHS Enterprise. The notice shall include a description of the property, the amount or estimated value of the property and, when available, the purpose for which the property was deposited or otherwise held. The notice shall state where the owner may make inquiry of or claim the property. The notice shall also state that if the owner fails to provide the Director with a written claim for the return of the property within sixty (60) days of the date of the notice, the property shall become the sole property of the City, Utilities or MHS Enterprise and any claim of the owner to the property shall be forfeited.
B. If the Director receives no written claim within the above sixty (60) day claim period, the property shall become the sole property of the City, Utilities or MHS Enterprise and any claim of the owner to the property shall be forfeited.
C. If the Director receives a written claim within the sixty (60) day claim period, the Director shall evaluate the claim and give written notice to the claimant within ninety (90) days of receipt of the claim that the claim has been accepted or that the Director proposes to deny the claim in whole or in part. The Director may investigate the validity of a claim and may request further supporting documentation from the claimant prior to disbursing or refusing to disburse the property. If the Director proposes to deny the claim in whole or in part, the claimant may, within thirty (30) days of the mailing of the notice of proposed denial, file in writing a request for a hearing before the Director. The Director shall schedule a hearing based upon the request. This hearing shall be recorded by the Director. After the hearing the Director shall either approve the request or deny the request in whole or in part.
D. Should there be more than one claimant for the same property, the Director may, in the Director's sole discretion, resolve the claims or may resolve the claims by depositing the disputed property with the registry of the District Court in an interpleader action filed by the City Attorney.
E. If all claims filed are denied, the property shall become the sole property of the City, Utilities or MHS Enterprise and any claim of the owner shall be forfeited.
F. Any legal action filed challenging a decision of the Director shall be filed pursuant to CRCP 106. If a CRCP 106 action is timely filed, the property shall be disbursed by the Director pursuant to the order of the court having jurisdiction over the claim.
G. The Director is authorized to establish administrative regulations and to administer procedures for the administration and disposition of unclaimed property consistent with this part including compliance requirements for employees in the identification and disposition of the property under the Director's control. (Ord. 11-18; Ord. 15-62)