The proceeds of the sale of an abandoned motor vehicle shall be paid to the city and the Director of Finance shall pay from such proceeds the costs of removal, storage, investigation, sale and liens, in that order. The remainder of the proceeds of sale, if any, shall be paid over to the registered owner, or held by the city for 60 days if the registered owner cannot be located with reasonable diligence. If the owner does not claim the remainder of the proceeds within 60 days after the sale, the funds shall be deposited into the city's general fund and the owner's rights therein shall be forever extinguished.
('70 Code, § 11-68) (Ord. 1983-13, passed 4-5-83; Am. Ord. 2005-63, passed 7-5-05)