When any vehicle impounded in the city is stored on a private licensed lot:
A. Sale Procedure: The owner of the lot may sell the vehicle after thirty (30) days if no claim shall have been made within that time. Sale shall be made in accordance with the following provisions:
1. The vehicle shall be sold at public auction, between the hours of nine o'clock (9:00) A.M. and four o'clock (4:00) P.M.
2. The vehicle shall be sold to the highest and best bidder, except the owner of the lot shall not be obligated to accept any bid which is less than the costs incurred in holding the vehicle.
3. After any vehicle has been sold, the former owner shall have no further right or claim in or to the vehicle.
4. A copy of the certificate of sale, together with a statement of the costs, shall be transmitted to the motor vehicles division of the state.
5. The owner of a private lot shall have the right to proceeds of sale of the vehicle.
B. Right To Have Vehicle Junked Or Dismantled: Any junked vehicle having an appraised value of three hundred dollars ($300.00) or less may be junked or dismantled as provided in statute. (Ord. 431, 9-4-1979)