Any person who finds and takes possession of any article of
the value of $1 or more shall report the finding of such article to
the Police Department within 48 hours of the time of such finding.
The finder of such article shall, at the time of reporting, furnish
to the Police Department the date, time and place of finding, his
name and address and a description of the article found and, within
a period of one week from such finding, shall deliver such article
to the Police Department. Any person who violates or fails to comply
with the provisions of this section shall be fined not more than $100
or imprisoned not more than 30 days, or both.
If the owner of any such article claims it within six months
of the date of receipt by the Police Department, the article or the
proceeds therefrom shall be restored to him upon payment or deduction
of all proper charges.
If no owner claims such article within six months from the receipt
thereof by the Police Department, the Police Department shall, within
two weeks thereafter, notify the finder of such fact by registered
or certified mail at his last known address, and the article or the
proceeds therefrom shall be turned over to the finder, upon demand
by him within 30 days of the expiration of the six-month period and
upon payment or deduction of all proper charges; but if such finder
fails to demand such article or the proceeds therefrom or refuses
to pay such charges within 30 days of the expiration of the six-month
period, such article or proceeds shall belong to the Town. The requirement
of notification may be omitted when the value or estimated value of
the article is less than $5.
The Chief of Police shall sell, at public auction, any article
which the Town acquires as provided herein after the expiration of
the time for the owner or finder to demand the same and after the
time and place of such sale and a description of the article to be
sold have been advertised once a week for two successive weeks in
a newspaper having a circulation in the Town. The net proceeds from
such sales and the unclaimed net proceeds from the sale of perishable
or obnoxious property or articles of a dangerous or harmful nature
shall be paid to the Treasurer of the Town, who shall deposit them
in the general fund of the Town.