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After the sale, the city shall:
(A) Deduct from the proceeds the cost of publishing the notice of the sale;
(B) Hold the overplus, if any, of such proceeds subject to the order of the owner of the property;
(C) Immediately after the sale, mail to the owner of the property, if his or her name and last known address can be ascertained by reasonable inquiry, a notice stating that such sale has been held and the amount of overplus, if any, due such owner; and
(D) At any time within 12 months thereafter, upon demand of the owner, pay such over plus to him or her.
(Ord. 1116, passed 2-25-1957; Ord. 1941, passed - -1972)