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)