All property lawfully coming into the possession of the City of Breckenridge,
Minnesota, and unclaimed by its owner shall be disposed of as provided by
this chapter.
The department of the city into whose possession property comes shall
arrange for storage of the same. If municipal facilities for storage are unavailable
or inadequate, arrangements for storage at privately owned facilities may
be arranged.
The owner of the property may claim the same by exhibiting satisfactory
proof of ownership and paying the city any storage or maintenance cost incurred
by the city. A receipt for the property shall be obtained upon release to
the owner.
In the event that the property remains unclaimed in the possession of
the city for a period of 60 days, the property shall thereafter be sold to
the highest bidder at a public auction conducted by the Chief of Police. Such
auction shall be held after two weeks' published notice setting forth the
time and place thereof, and the property to be sold.
The net proceeds from the sale of such property after deduction of storage
costs incurred, if any, shall be placed in the Treasury of the city subject
to the right of the former owner to payment of the sale price to said owner
from the fund upon application and satisfactory proof of ownership within
six months of the sale.