Lomita Municipal Code Ch. 7.5 Unclaimed Property

[The following words, terms and phrases, when used in this chapter, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:]

Unclaimed property means goods or chattels which are no longer possessed by their lawful owner unless the lawful owner has demanded return of said property after demonstrating proof of ownership.

(Ord. No. 795, § 2, 2-20-18)

All unclaimed property in the city that is identified to, or located by, city personnel may be placed in the custody of the city clerk to be held and disposed of in accordance with this chapter.

(Ord. No. 795, § 2, 2-20-18)

(a) All unclaimed property in the possession of the city clerk shall be held by the city clerk for a period of at least three (3) months.

(b) All unclaimed property in the possession of the city clerk shall be tagged showing the date and circumstances of its acquisition by the city clerk.

(Ord. No. 795, § 2, 2-20-18)

(a) If, during the time unclaimed property is in the possession of the city clerk, the owner of said property appears and proves his ownership, the city clerk shall restore the property to him or her.

(b) The city clerk may require that the reclaiming owner pay to the city clerk the reasonable costs of storage and care of the property and the costs of publication incurred by reason of compliance with the terms of this chapter or to alert the owner to the city's possession of the unclaimed property.

(Ord. No. 795, § 2, 2-20-18)

If, after the expiration of the applicable retention period defined by section 2-7.5.03(a), the city manager or his/her designee determines any unclaimed property in the possession of the city clerk is needed for public use, such property shall be retained by the city.

(Ord. No. 795, § 2, 2-20-18)

After the expiration of the applicable retention period defined by section 2-7.5.03(a), all unclaimed property remaining in the custody of the city clerk may be sold at public auction to the highest responsible bidder in accordance with this chapter.

(Ord. No. 795, § 2, 2-20-18)

The administrative services director or designee shall conduct periodic public auctions for the sale of unclaimed property. The date of a public auction shall be at least seven (7) days following the publication in a newspaper of general circulation, published in the county of Los Angeles, of a notice of the sale at public auction of unclaimed property. The administrative services director or designee shall have the authority to specify minimum bids or other reasonable conditions. All purchases at public auction shall be final. All purchasers at public auction shall take immediate possession of purchased property and property purchased at public auction shall not be reclaimable by the original owner nor shall the city be liable for such sale.

(Ord. No. 795, § 2, 2-20-18)

(a) The city manager shall be responsible for the selection of an auctioneer. The city may use a member of staff for this purpose or may solicit the services of a qualified private auctioneer including online auctioneer services.

(b) A private auctioneer may be compensated with a percentage of the gross proceeds or other fee as approved by the city manager prior to the auction.

(Ord. No. 795, § 2, 2-20-18)

All proceeds from the sale at public auction of unclaimed property, less private auctioneer compensation, shall be deposited in the city's general fund.

(Ord. No. 795, § 2, 2-20-18)

After the expiration of the applicable retention period defined by section 2-7.5.03(a), all unclaimed property which is deemed to be of limited or no value, or which is an item that is not commonly the subject of sale, may be destroyed or otherwise disposed of or donated by the city. All unclaimed property remaining unsold after being offered for sale at public auction may be destroyed or otherwise disposed of or donated by the city.

(Ord. No. 795, § 2, 2-20-18)