(A) The notice of sale shall state:
(1) The sale is of abandoned property in the possession of the village;
(2) A description of the vehicle, including make, model, license number and any other information which will accurately identify the vehicle;
(3) The terms of the sale; and
(4) The date, time and place of the sale.
(B) The vehicle shall be sold to the highest and best bidder. At the time of payment of the purchase price, the Chief of Police shall execute a certificate of sale in duplicate, the original of which to be given to the purchaser and the copy thereof to be filed with the Clerk of the village. Should the sale for any reason be invalid, the village’s liability shall be limited to the return of the purchase price.