(A) Purpose. The purpose of this section is to provide for the administration and disposition of unclaimed property, which is in the possession of or under the control of the municipality.
(Prior Code, § 2.48.010)
(B) Definitions. For the purpose of this section, the following definitions shall apply unless the context clearly requires a different meaning.
CLERK/TREASURER. The Town Clerk/Treasurer of the Town of Haxtun or designee thereof.
MUNICIPALITY. The Town of Haxtun, Colorado.
OWNER. A person or entity, including a corporation, partnership, association, governmental entity other than the municipality, or a duly authorized legal representative or successor in interest of same, which owns unclaimed property held by the municipality.
UNCLAIMED PROPERTY. Any tangible or intangible property, including any income or increment derived therefrom, less any lawful charges, that is held by or under the control of the municipality and which has not been claimed by its owner for a period of more than five years after it became payable or distributable.
(Prior Code, § 2.48.020)
(C) Procedure for disposition of property.
(1) Prior to disposition of any unclaimed property having an estimated value of $50 or more, the Clerk/Treasurer shall send a written notice by certified mail, return receipt requested, 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 municipal department or agency holding the property. 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 Clerk/Treasurer with a written claim for the return of the property within 60 days of the date of the notice the property shall become the sole property of the municipality and any claim of the owner to such property shall be deemed forfeited.
(2) Prior to disposition of any unclaimed property having an estimated value of less than $50 or having no last known address of the owner, the Clerk/Treasurer shall cause a notice to be published in a newspaper of general circulation in the municipality. The notice shall include a description of the property, the owner 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 property within 60 days of the date of the publication of the notice, the property shall become the sole property of the municipality and any claim be deemed forfeited.
(3) If the Clerk/Treasurer receives no written claim within the above 60-day claim period, the property shall become the sole property of the municipality and any claim of the owner to such property shall be deemed forfeited.
(4) If the Clerk/Treasurer receives a written claim within the 60-day claim period, the Clerk/Treasurer shall evaluate the claim and give written notice to the claimant within 90 days thereof that the claim has been accepted or denied in whole or in part. The Clerk/Treasurer may investigate the validity of a claim and request further supporting documentation from the claimant prior to disbursing or refusing to disburse the property.
(5) In the event that there is more than one claimant for the same property, the Clerk/Treasurer may, in the Clerk/Treasurer’s sole discretion, resolve said claims or may resolve such claims by depositing the disputed property with the registry of the District Court in any interpleader action.
(6) In the event that all claims filed are denied, the property shall become the sole property of the municipality and any claim of the owner of such property shall be deemed forfeited.
(7) Any legal action filed challenging a decision of the Clerk/Treasurer shall be filed pursuant to Rule 106 of the Colorado Rules of Civil Procedures within 30 days of such decision or shall be forever barred. If any legal action is timely filed, the property shall be disbursed by the Clerk/Treasurer pursuant to the order of the Court having jurisdiction over such claim.
(8) The Clerk/Treasurer is authorized to establish and administer procedures for the administration and disposition of unclaimed property consistent with this section, including compliance requirements for other municipal officers and employee in the identification and disposition of such property.
(Prior Code, § 2.48.030)
(Ord. 92-1, passed - -1992)