1331.09 DISPOSITION OF UNCLAIMED BONDS.
   (a)   Any bond unclaimed, by the person, firm or corporation which deposited the same with the Building Inspector pursuant to the provisions of any ordinance or law, within two years of the deposit of such bond, shall be deemed forfeited. The proceeds of such bonds shall be the property of the Municipality.
   (b)   Upon the determination of the Building Inspector that the bond or bonds deposited and unclaimed have been forfeited by virtue of subsection (a) hereof, the Building Inspector shall forthwith transmit the proceeds of such bonds to the Finance Director together with an explanation of such transmittal.
   (c)   The Finance Director, upon the receipt of the proceeds provided for and described in subsection (b) hereof, shall deposit the same in the General Fund of the Municipality.
   (d)   Upon transmitting the proceeds of any bond to the Finance Director, the Building Inspector shall give appropriate notice of such action by regular U.S. mail, postage prepaid, to the person, firm or corporation which deposited the bond with the Building Inspector and the notice shall be addressed to the last known address of such person, firm or corporation.
   (e)   Any person, firm or corporation claiming to be aggrieved or damaged by the actions of any officer taken pursuant to the provisions of this chapter or any section hereof, may petition, in writing to Council requesting a review and reversal of such action.
   (f)   Council shall consider all petitions filed within sixty days of the date of the forfeiture of any bond as provided in this chapter and the Council shall be empowered to affirm, modify, amend and/or extend or reverse any decision made by the Building Inspector and/or the municipal fiscal officer, upon recommendation of a representative from the Building Department.
(Ord. 2002-30. Passed 3-28-02.)