If, after the expiration of the three-month time period specified in Section 2080.4 of the California Civil Code and after notice is published as required by Section 2080.3 of the California Civil Code, the owner fails to redeem the property as hereinbefore set forth, or if the finder of such property fails to pay the cost of publication of the notice concerning such property, or otherwise fails to claim the property, the chief of police shall cause such property to be transferred to the procurement services division of the city; provided, however, that if the property shall consist of personal property with a value of not more than five hundred dollars ($500.00), the chief of police may cause such property to be donated to any charitable or nonprofit organization which is authorized under its articles of incorporation to participate in a program or activity designed to prevent juvenile delinquency and which is exempt from income taxation under federal or state law, after notice has been provided in accordance with California Welfare and Institutions Code Section 217, as it now exists or should hereafter be amended; and provided further, that if the property shall consist of money, it shall be deposited in the city treasury for disposition as provided by law.
Upon the transfer of such property to the procurement services division, the owner of such property, or the finder thereof, shall not thereafter be entitled to redeem such property. (Ord. 2007-088 § 2; Ord. 2000-017 § 2(k)(vi) (Exh. G); Ord. 2000-013 § 1; prior code § 12.06.102)