All property which may be left abandoned on the streets of the city as well as all property which may come into the possession of the city and belonging to persons unknown shall be preserved, protected, stored, and retained by the chief of police.
(1967 Code, sec. 23-10; 1994 Code, sec. 32.20)
The time and occasion of the acquisition of abandoned or lost property in the possession of the city shall be carefully kept in a record kept by the chief of police reflecting the description and manner of acquisition, as well as the manner of preservation, storage, and ultimate disposition of the property and the proceeds therefrom.
(1967 Code, sec. 23-11; 1994 Code, sec. 32.21)
(a) 
In the event that abandoned or lost property in the possession of the city remains preserved, stored, and belonging to persons unknown for a period of three months, then a public sale shall be held of the unclaimed property by the police department at the regular public sale date next following the expiration of three months after acquisition of the property.
(b) 
Regular sale dates shall be on the first Tuesday in January, April, July, and October of each year. Before a public sale of such properties and articles is had, 30 days’ public notice shall be given showing the time and place of the sale, a brief description of the property and articles to be sold, and the nature of and names of the articles to be sold.
(c) 
Such public notice shall be posted at a public place in the police department of the city and a copy thereof at the courthouse in the county, and a copy of the notice shall also be published one time in a newspaper of general circulation in the city 30 days before the date of sale, and all sales shall be made to the highest responsible bidder.
(1967 Code, sec. 23-12; 1994 Code, sec. 32.22)
(a) 
In the event that the rightful owners claim abandoned or lost property in the possession of the city prior to the expiration of the three-month holding period, the property shall be returned to them upon their payment to the city secretary of a sum of money equal to the costs of the preservation and the storage of such property.
(b) 
In the event that the rightful owner appears subsequent to the public sale and prior to the expiration of three months after the public sale, then the rightful owner shall be entitled to the proceeds of the sale, less the cost of the preservation and storage of the property.
(c) 
In the event that a rightful owner shall claim the property for the first time after three months have expired after the date of public sale, he or she shall have no claim whatsoever against the city.
(d) 
The proceeds of the sale of the unclaimed property shall be turned over by the chief of police to the city secretary together with his notations of the costs of the storage and preservation of the property. After the expiration of three months subsequent to the date of public sale, the city secretary shall place such funds in the general fund of the city.
(1967 Code, sec. 23-13; 1994 Code, sec. 32.23)