(A) If money or other property that has been stolen, lost or abandoned, or taken or received from a person under arrest, comes into the possession of a member of the Police Department by virtue of his or her office, he or she shall deliver it to the officer of the Police Department who is designated as the Property Room Officer by order or rules of the Board of Public Works and Safety. The member is then relieved from further responsibility for the property. If the money or other property remains unclaimed in the possession or control of the officer to whom it has been delivered for six months, and the owner and his or her place of residence or business is unknown, the Board of Public Works and Safety shall have the money paid into the City treasury and the other property sold at public auction.
(B) Notice of the time and place of the sale, with a description of the property to be sold, shall be given by publication in accordance with I.C. 5-3-1. However, if the property is perishable or will deteriorate greatly in value by keeping, or if the expense of keeping it is likely to exceed its value, it may be sold at public auction in accordance with the rules or orders of the Department. Reasonable notice of the time and place of sale must be given by publication in a newspaper of general circulation printed in the City. The proceeds of each sale, after deducting all reasonable charges and expenses incurred in relation to the property, shall be paid into the City treasury.
(C) Upon payment of the money into the City treasury, the Board of Public Works and Safety shall certify to the City Controller the date and amount of money paid. The City Controller shall keep an account of all money paid in and of all sums drawn from the treasury under the following provisions.
(1) If the owner of the money or other property makes a claim to and proves his or her ownership of the property within one year after the money or proceeds of sale have been paid into the City treasury, the money or proceeds shall be paid to him or her on the order of the Police Chief after deducting all reasonable charges and expenses.
(2) After one year, the money or proceeds are considered a part of the General Fund of the City.
(D) This section does not apply to property seized upon a search warrant, the custody and disposition of which are otherwise provided for by law.