Section 6-14-1. Purpose. The purpose of this ordinance is to provide for the administration and disposition of unclaimed property which is in the possession of or under the control of the municipality.

[Source: Ord. 1054, 1992]

Section 6-14-2. Definitions. Unless otherwise required by context or use, words and terms shall be defined as follows:

"Unclaimed property" means any tangible or intangible property, including any income or increment derived therefrom, less any lawful charges, that is held by or under the control of the municipality and which has not been claimed by its owner for a period of more than two years after it became payable or distributable. For purposes of this ordinance, "unclaimed property" shall not include either "abandoned personal property", "abandoned motor vehicles" or "unclaimed pension benefits" as defined in the Northglenn Municipal Code or the General Employees Pension Plan of the City of Northglenn. The procedures governing the disposition of "abandoned personal property", "abandoned motor vehicles" or "unclaimed pension benefits" as provided in Sections 6-12-1, et seq. and 7-3-4, et seq. of the Northglenn Municipal Code and Section 7.8 of the General Employees Pension Plan of the City of Northglenn shall continue to govern these types of property, when applicable, notwithstanding the provisions of this ordinance.

"Municipality" means the City of Northglenn, Colorado.

"Owner" means a person or entity, including a corporation, partnership, association, governmental entity other than this municipality, or a duly authorized legal representative or successor in interest of same, which owns unclaimed property held by the municipality.

[Source: Ord. 1054, 1992; 1061, 1992]

Section 6-14-3. Procedure for Disposition of Property.

Prior to disposition of any unclaimed property having an estimated value of $50.00 or more, the City Clerk shall send a written notice by certified mail, return receipt requested, to the last known address, if any, of any owner of unclaimed property. The last known address of the owner shall be the last address of the owner as shown by the records of the municipal department or agency holding the property. The notice shall include a description of the property, the amount or estimated value of the property, and, when available, the purpose for which the property was deposited or otherwise held. The notice shall state where the owner may make inquiry of or claim the property. The notice shall also state that if the owner fails to provide the City Clerk with a written claim for the return of the property within sixty (60) days of the date of the notice, the property shall become the sole property of the municipality and any claim of the owner to such property shall be deemed forfeited.

Prior to disposition of any unclaimed property having an estimated value of less than $50.00 or having no last known address of the owner, the City Clerk shall cause a notice to be published in a newspaper of general circulation in the municipality. The notice shall include a description of the property, the owner of the property, the amount or estimated value of the property and, when available, the purpose for which the property was deposited or otherwise held. The notice shall state where the owner may make inquiry of or claim the property. The notice shall also state that if the owner fails to provide the City Clerk with a written claim for the return of the property within sixty (60) days of the date of the publication of the notice, the property shall become the sole property of the municipality and any claim of the owner to such property shall be deemed forfeited.

If the City Clerk receives no written claim within the above sixty (60) day claim period, the property shall become the sole property of the municipality and any claim of the owner to such property shall be deemed forfeited.

If the City Clerk receives a written claim within the sixty (60) day claim period, the City Clerk shall evaluate the claim and give written notice to the claimant within ninety (90) days thereof that the claim has been accepted or denied in whole or in part. The City Clerk may investigate the validity of a claim and may request further supporting documentation from the claimant prior to disbursing or refusing to disburse the property.

In the event that there is more than one claimant for the same property the City Clerk may, in the City Clerk's sole discretion, resolve said claims, or may resolve such claims by depositing the disputed property with the registry of the District Court in an interpleader action.

In the event that all claims filed are denied, the property shall become the sole property of the municipality and any claim of the owner of such property shall be deemed forfeited.

Any legal action filed challenging a decision of the City Clerk shall be filed pursuant to Rule 106 of the Colorado Rules of Civil Procedure within thirty (30) days of such decision or shall be forever barred. If any legal action is timely filed, the property shall be disbursed by the City Clerk pursuant to the order of the Court having jurisdiction over such claim.

The City Clerk is authorized to establish and administer procedures for the administration and disposition of unclaimed property consistent with this ordinance, including compliance requirements for other municipal officers and employees in the identification and disposition of such property.

[Source: Ord. 1054, 1992]