(A) Generally. Any unclaimed personal property coming into possession of the city may be disposed of by the city as follows.
(1) Upon being held by the city and unclaimed by the owner thereof for a period of not less than 60 days, the property shall be sold by the city at public auction or by sale, in either case to the highest bidder. Notice of the sale or public auction shall be published in the official newspaper of the city at least ten days prior to the date of the sale or public auction and in the case of disposition by sale, shall specify the date, time and place for final submission of bids. In lieu of public auction or sale, any of the unclaimed property may be appropriated to the use of the city upon direction of the City Council.
(2) The public auction or sale as above described on unclaimed property as above described shall be the responsibility and shall be conducted by the Chief of Police at times which he or she may deem appropriate and expedient dependant upon the amount and value of the property to be sold.
(3) Should the unclaimed property be lost currency or coin of value no greater than the face amount, then if unclaimed for the period so specified herein, the coin and currency shall be returned to the finder.
(B) Reports, property sold. Upon completion of any sale under division (C) below, the Chief of Police shall make a report thereof to the City Administrator which shall consist of the following information:
(1) A copy of the published notice of auction or sale;
(2) A list of the property sold, the amount for which each item was sold and to whom it was sold;
(3) A list of property not sold; and
(4) A statement of expenses of the auction or sale.
(C) Disposition of proceeds. The proceeds of any auction or sale shall be applied in payment of expenses of the auction or sale and all other costs incurred in retaining and storage of the property. The balance of proceeds remaining from the sale shall be paid into the General Fund of the city.
(D) Unsold articles disposition. In the event that any property is not sold, the City Council shall then make the disposition of the unsold articles as it deems in the best interest of the city.
(E) Owner’s rights after sale. If the owner of property sold at auction or sale is found within six months following the date of sale or auction, he or she shall have the right to the proceeds of the sale or auction for that article upon satisfactory proof to the Chief of Police that he or she is the unquestionable legal owner of the property.
(Ord. 64, passed 11-5-1979)