[HISTORY: Adopted by the Town Board of the Town of Shelter Island 7-24-1981. Amendments noted where applicable.]
A. 
All lost property in the possession of any Town personnel shall be placed in the custody of the Police Department, to be held and disposed of in accordance with the General Municipal and Personal Property Laws of the State of New York.
B. 
All lost and unclaimed property in the possession of the Police Department shall be held for the period of time necessary to comply with the requirements of the Personal Property Law, § 253, Subdivision 7.
C. 
All lost and unclaimed property in the possession of the Department shall be tagged showing the date and circumstances of its acquisition.
If, during the time lost and unclaimed property is in the possession of the Police Department, the owner of the property appears and proves his ownership, the Department shall restore the property to him. The Department may require that the reclaiming owner pay to the Department the reasonable costs of storage and care of the property and the costs of publication incurred by reason of compliance with the applicable laws and regulations.
A. 
After the expiration of the applicable retention period, all lost and unclaimed property remaining in the custody of the Police Department shall be sold at public auction to the highest bidder. Such public auction will be held under the auspices of the Shelter Island Police Department.
B. 
All proceeds from the sale at public auction of lost or unclaimed property shall be deposited in the general fund of the Town.
After the expiration of the applicable period, all lost and unclaimed property which is deemed to be of limited or no value or which is a thing which is commonly not the subject of sale may be destroyed by the Town. All unclaimed property remaining unsold after being offered for sale at public auction may be destroyed or otherwise disposed of by the Town.