A. Sale At Public Auction: When any motor vehicle, including motorcycle, motor scooter, and motor bicycle, has been impounded by the police department on account of any of the offenses designated in this chapter, if the owner on being notified, either personally or by mail, fails to claim and redeem the vehicle, or if upon diligent inquiry the owner cannot be found and notice is given to him by advertisement in a newspaper having general circulation in the city once a week for two (2) consecutive weeks and the owner fails for a period of sixty (60) days after the first date of publication to claim and redeem the vehicle, the chief of police shall sell the vehicle at the time and place designated in the notice at public auction.
B. Disposition Of Proceeds:
1. After deducting all amounts due for towage, expenses of keeping, impounding fee, and costs of notice and of sale, the remaining proceeds shall be paid to the owner if he demands same within two (2) years from the date of sale. If the remaining proceeds are not claimed for a period of two (2) years from the date of sale, they shall become a part of the general fund of the city.
2. If at said sale no bidder bids enough to cover all amounts due for towage, expenses of keeping, impounding fees, and costs of giving notice and sale, the chief of police may thereafter, without giving further notice, sell the impounded vehicle at public or private sale. Disposition of the sale price obtained in such event shall be the same as if sold at sale for which notice was given as provided in this section. (2011 Code)