Where the owner of record of a motor vehicle seized under the provisions of this Section makes a request, in writing and filed with the Chief of Police or the Chief of Police’s designee, for a preliminary hearing within twelve (12) hours after the seizure of the motor vehicle, the Chief of Police or the Chief of Police’s designee must conduct a preliminary hearing within twenty-four (24) hours after the request for a preliminary hearing is received by the Village; provided that if the date for the preliminary hearing falls on a Saturday, Sunday or legal holiday, the preliminary hearing will be held on the next business day following the Saturday, Sunday or legal holiday. For purposes of this subsection, the following shall apply:
(1) All interested persons shall be given a reasonable opportunity to be heard at the preliminary hearing.
(2) The formal rules of evidence shall not apply at the preliminary hearing, and hearsay testimony shall be allowed, and shall be admissible.
(3) If, after the conclusion of the preliminary hearing, the Chief of Police or the Chief of Police’s designee determines that there is probable cause to believe that the motor vehicle was used as provided in subsection 2 above, the Chief of Police or the Chief of Police’s designee shall order the continued impoundment of the motor vehicle, unless the owner of record of the motor vehicle posts a cash bond with the Village in the amount of five hundred and no/100 dollars ($500.00), and pays the towing and storage costs to the applicable tow company, as set forth in subsection 4 above.
(4) If the Chief of Police or the Chief of Police’s designee determines that there is not probable cause to believe that the motor vehicle was used as provided in subsection 2 above, the motor vehicle shall be returned to the owner of record of the motor vehicle without any fees or other costs, but the owner of record shall be responsible to pay any towing or storage charges to the applicable tow company.