In the event that the identity or location of the owner, owners, or other persons lawfully entitled to possession of the property has not been ascertained within six (6) months after the date of custody by the police department, that property shall be deemed to have been abandoned. If, after six (6) months, the property retained in custody has not been claimed by the rightful owner or owners or person lawfully entitled to possession thereof, then, in the discretion of the chief of police and with approval of village administrator, the property may be disposed of as follows:
A. By sale of the property to the highest bidder at public auction, notice of which, including time, place and a brief description of the property, shall be published at least once in a newspaper of general circulation within the village at least ten (10) days prior to the auction. Any proceeds realized from the sale of said property shall be deposited in the general corporate fund of the village; or
B. In the event that the chief of police determines that the interest of the public will best be served thereby, the chief of police may transfer custody of the property to the village for its use; or
C. In the event the chief of police determines that the value of the property is such that the cost associated with a sale at public auction is greater than the value of the property, or in the event that the property is perishable, is contraband, or may not otherwise be lawfully possessed by the owner, owners or persons entitled to possession, then, and in that event, the chief of police or his designee may order the destruction of the property in such a manner as the chief of police deems prudent or proper. (Ord. 96-57, 6-6-1996)