A. After the expiration of the claim periods provided in section 2-304, all unclaimed property not destroyed or disposed of pursuant to section 2-306.01 shall be retained by the City for public use, subject to appropriate record keeping and control procedures, sold at public auction, or sold by internet auction, as provided below. Unclaimed property may be retained by the City for public use if the City Manager or his designee determines that the property is needed for public use. Otherwise, the property shall be sold at a public or an internet auction by the Police Department to the highest bidder for cash at the date, time, and place specified by the Police Department. Some or all of the property may be sold subject to a minimum bid. The fact that some or all of the property will be sold subject to a minimum bid shall be made known in advance of bidding.

B. All unclaimed personal property that has not been sold after having been offered for sale at public auction or internet auction may be destroyed by the Police Department.

C. All monies received from such sales shall be paid to the City Treasurer and deposited immediately into the general fund of the City. (Ord. No. G-1785, § 1; Ord. No. G-2280, § 2; Ord. No. G-3559, § 1; Ord. No. G-3715, § 4; Ord. No. G-4369, § 1, 2001)