Any bicycle operated by any person in violation of the provisions of this chapter may be seized by any member of the Police Department and be impounded in the Municipal Building for a period of sixty days. In the event that a bicycle so impounded is not claimed by the owner or operator of the same or by the parent or guardian of such owner or operator, it shall be sold by the Manager and the proceeds of such sale shall be disposed of in the manner provided by law. (1970 Code Sec. 75.15)