A. Surplus Paid To Titled Owner: After disposing of the discarded vehicle and deducting the sums owed to the city, if the proceeds of the sale exceed the sums owed to the city, then such surplus funds shall be paid to the titled owner of the vehicle and any lessor or security interest holder who can furnish proof of interest in the vehicle.
B. Owner Unfound; Funds Property Of City: If the owner, lessor, or security interest holder cannot be found at the last address contained in the records of the applicable motor vehicle division, or such other address as has been furnished to the city in connection with the discarded vehicle proceeding, and such surplus proceeds are not claimed within three (3) years after the date of the sale, then such proceeds shall become the property of the city and shall be deposited to the general fund of the city. No interest shall accrue on said proceeds during the time held by the city. (Ord. 546, 12-8-1992)