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(a) Following the expiration of the 30-day claim period and the resolution of all outstanding claims pursuant to section 2-723 of this Code, the city may, at the discretion of the director:

(1) Treat any unclaimed property as surplus and dispose of the property as set forth in section 2-678 of this Code.

(2) Use any unclaimed property in city operations if, in the opinion of the director, its use will serve a public purpose.

(3) Destroy any unclaimed property which the City is otherwise unable to dispose of or use if, in the opinion of the director, such property is of negligible value.

(4) Transfer possession of any unclaimed property which has been lost or abandoned and which has been left in the custody or control of the police department upon written request of the individual or individuals who found such property.

(5) Be disposed of at a public or private sale, in a manner determined by the director, in his or her sole discretion, to maximize the consideration received for sale or disposition of such property. If the director determines that the unclaimed property has minimal resale value, such that the administrative time and expense of disposition is not justifiable, the director may destroy or otherwise dispose of the property at any time. In no event shall the director transfer unclaimed property to an officer or employee of the City, or a relative of an officer or employee.

(6) Be donated to charitable organizations, local governments or be destroyed.

(b) Any proceeds from the sale of unclaimed property pursuant to this section shall be deposited in the unclaimed property account of the City.

(c) Any purchaser or donee of unclaimed property under this section shall take such property without warranty against any claim of the owner or previous holder thereof and of all persons claiming through or under them. The director shall execute all documents necessary to complete the transfer of ownership. (Code 1979, § 2-213; Ord. No. 2016-60, § 3, 10-24-2016; Ord. No. 96-20, § 3, 7-1-1996)