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Chief Carol Sletner September 12, 2008 Page reference to cars and trucks be deleted from paragraph 3b. Additionally, if the Department g ill use laid rnerica Auctions} or another organi zation,, for disposal of boats, planes and bulk lots of bicycles, e recommend deleting Paragraphs (h) and b) and any other -reference to Large Property Items. We recommend that.. Paragraph 6 be amended to include the requirement that Property Room provide -a deta.i led inventory of each- item sold, the sales price of each item, and the identity of each purchaser. This inforniation is important because City Code and Minnesota law provide that the actual owner of unclaimed property has a right to demand the sale proceeds within six mt onth.s ofth.e sale. The City's ability to meet its obligation to provide the sales proceeds will depend on the City's receipt of an accurate and complete record of the sale of each item. We recommend that Paragraph a be amended as follows: aY The completed sales during the prior month, including a detailed inventory of'each item sold} the sales price of each item, and the identity of each purchaser, the total anaount of'related proceeds collected, owner and PRC share of Processing Costs, and the Owners Net Proceeds.- We also recommend that City Code Section 508.01 be amended, to specifically authorize the u-se of an on -line electronic auction service for the disposal of unclaimed i. property, as follows 508.01 ; BABE of UNCLAIMED PROPERTY The Chief of police is authorized to administer the disposal of property lawfully corning into the possession of the City and remaining unclaimed by the owner after sixty (60) days. Disposal shall be by sale to the highest bid.dCr a pubhe auct.l. ?n or sale, includi o electronic on -line Action. notice specif ying the date, time and place of any auction or sale shall be published in a newspaper of general circulation throughout the City at least one week prior to such auction or sale. The net proceeds of sale shall be placed in the City's General Fund, subject to the right of the former owner to payment of the net proceeds upon application and presentation of satisfactory proof of ownership within six (6) months of the sale. Net proceeds means the sale price less all costs of handling, storage or sale. (Ord. 849, 6-11-79) Paragraph 13 has several typographical errors, including prcoperty, preovision, prcofits, provided, and prcecedent.- Because Paragraph 13 addresses important provisions regarding