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<br />Subd. 1. Sellincr of Unclaimed Prooertv . Except as provided in <br />Subds. 2 and 3 of this Subsection, if the Owlier of any property <br />coming into possession of the City cannot be found within (60) <br />days after the date the property came into possession of the <br />Ci ty, the Chief of Police shall sellar cause to be sold, the <br />property to the highest bidder at public auction or by sealed <br />bids. Notice of the time and place of any public auction shall <br />be published once a week for two consecutive weeks in the <br />official newspaper of the city. At the time and place designated <br />in such notice, the Chief of Police or duly authorized <br />representative shall conduct the auction in a manner as the Chief <br />of Police deems appropriate under thecircU!!lstances. Notice of <br />the sale shall also be posted in the city Hall, the Police <br />Department, and other locations as the Chief of Police deems <br />appropriate. <br /> <br />Subd. 2 Items of Small Value. If any item of unclaimed property <br />in possession of the City appears to have a value of five dollars <br />($5.00) or less, ii hazardous to store or is perishable, the <br />Chief of Police or duly authorized representative may sell or <br />otherwise dispose of the property in .whatever manner the Chief of <br />Police determines reasonable and appropriate. <br /> <br />./ <br /> <br />Subd. 3 Unclaimed. Firearms. Unclaimed firearms, Wl "Cn the <br />exception of any pistol, shall be sold only to gun dealers <br />licensed by the Federal Government. All pistols shall be <br />destroyed. <br /> <br />Subd. 4 Waitincr Period Exoiration. Upon expiration of t:ne sixty <br />day waiting period, unclaimed property coming into possession of <br />the city of Circle pines may be appropriated by the City for use <br />by the city at the dis.cretion of the city Administrator. <br /> <br />245.06 Proceeds of Sale to Be Denosited with citv Clerk. <br /> <br />Subd. 1 Costs Incurred. The proceeds of the sale of any item of <br />property made pursuant to this Section shall first be applied to <br />the payment of all costs and charges incurred for the storage; <br />maintenance or otherwise in connection with such property. <br /> <br />Subd. 2 Remainincr Balance. The balance of the proceeds of the <br />sale shall then be deposited by the Chief of Police with the <br />Clerk along with a statement containing a description of the <br />property sold, the gross amount for which it.was sold, the amount <br />for which it was sold, the amount of charges incurred in <br />connection with the property, and the name of any pers on <br />purchasing the property. <br /> <br />Subd. 3 SeDarate Accounts. The city Clerk shall keep separate <br />accounts in the general fund for the proceeds of the sale and <br />such proceeds shall be invested in whatever manner is determined <br /> <br />~Ct <br />