a. The money in question shall be placed into the "Asset Seizure" fund of the Police Department budget.
b. The Schererville Police Department shall then be authorized to deposit the seized funds into an interest-bearing account with an approved financial institution.
c. The Chief of Police shall have the discretion not to deposit funds into an interest-bearing account if there exists a valid reason for them to remain in the evidentiary room, such as a chain of custody situation.
d. The funds shall remain in the interest-bearing account until an order is received from a court with jurisdiction over the funds as to what party holds an ownership interest in the monies.
(Ord. No. 1419, §§ 1-4, 5-13-98)