All property as advertised, the owner of which fails to reclaim such property within the aforesaid, and which property was found by a city employee or agent while in the performance of his duty, shall be deemed to be abandoned and same shall be disposed of as provided in this section. After the expiration of one year, said property shall be claimed by the city as its own personal property to be sold, disposed of or liquidated by the Chief of Police in accordance with the rules and regulations covering such sales as prescribed by the City Council, and the proceeds of which shall be deposited with the City Treasurer in the general funds; providing that notice of the proposed sale at auction on said property, together with the date, time and place of sale, shall be advertised once each week for three consecutive weeks in the official newspaper generally circulated in the city, and that no sale shall take place within less than 30 days from the date of the first advertisement of such sale.
(‘68 Code, § 2-607) (Ord. 617, passed 6-17-85)