§ 2-250. Disposition of proceeds.

(a)

All monies received from disposal of abandoned personal property, or an amount equal to the fair market value of the property if disposed by exchange or trade, as provided for in this article, less the cost of advertising and selling, shall be immediately paid over to the city treasurer and retained in a separate fund for at least six (6) months.

(b)

Should any person within six (6) months from the date of disposal of any item of abandoned personal property make claim thereto and establish ownership, the sum of money paid over to the city treasurer as provided herein shall be paid over to such person. In no event shall any claim be considered unless it shall be presented to the city treasurer in writing under oath and before the expiration of six (6) months from the date of the disposal of the item claim.

(Code 1963, §§ 24A-10, 24A-11; Ord. No. 1605, § 3, 6-13-89; Ord. No. 2184, § 3, 2-13-01)