(A) Upon adoption of a resolution declaring certain property to be unclaimed property, the City Administrator shall publish a notice thereof describing the same, together with the names (if known) and addresses (if known) of prior owners and holders thereof, and including a brief description of the property. The text of the notice shall also state the time, place and manner of sale of all this property, except cash negotiables. The notice shall be published once at least three weeks prior to sale. Sale shall be made to the highest bidder of public auction or sale conducted in the manner directed by the Council and its resolution declaring property abandoned and stated in the notice.
(B) In lieu of public auction or sale, any of the unclaimed property may be appropriated to the use of the city upon approval of the appropriation by resolution of the Council.
(2004 Code, § 91.27) (Ord. 90-18, passed 5-8-1990)