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Attachment B <br />508.01: SALE OF UNCLAIMED PROPERTY: <br />The Chief of Police is authorized to administer the disposal of property lawfully coming into the <br />possession of the City and remaining unclaimed by the owner after 60 days. Disposal shall be by sale to <br />the highest bidder at public auction or sale including electronic auction. A notice specifying the date, <br />time and place of any auction or sale shall be published in a newspaper of general circulation <br />throughout the City at least one week prior to such auction or sale. The net proceeds of sale shall be <br />placed in the City's General Fund, subject to the right of the former owner to payment of the net <br />proceeds upon application and presentation of satisfactory proof of ownership within six months of the <br />sale. Net proceeds means the sale price less all costs of handling, storage or sale. (Ord. 849, 6-11-79) <br />(Ord. 1380, 12-15-2008) <br />60 <br />