The Police Department shall have custody of any property lawfully coming into the possession of the City in the course of Municipal operations and remaining unclaimed by the owner. The Police Department shall dispose of such property according to the provisions of this Chapter. After the property has been in the possession of the City for a period of at least sixty (60) days, such property may be sold to the highest bidder at public auction or sale or by a private sale through a nonprofit organization that has a significant mission of community service. Any sale by public auction must comply with the procedures of State law for such sale. The proceeds of any such sale shall be paid into the General Fund of the City, subject to the right of the former owner to payment of the sale price from the Fund upon application and satisfactory proof of ownership within six (6) months of the sale. In the alternative, the City may retain any such property for public purposes. (Ord. 767, 8-21-1995)