§ 4-14.12. Proceeds of forfeiture.

In all cases where a vehicle is seized and forfeited to the City, the vehicle shall be destroyed, sold or otherwise be disposed of in accordance with this chapter. If sold, the proceeds shall be distributed and appropriated as follows:

(a)

First, to the bona fide or the innocent purchaser, conditional sales vendor, bona fide mortgage or lien holder of the vehicle, if any, up to the amount of his or her interest in the vehicle when the court or City Attorney declares the forfeiture and orders a distribution to that person. A bona fide mortgage or lien holder is a motor vehicle dealer, bank, credit union, acceptance corporation, or other licensed financial institution or person holding a documented security interest in the vehicle that arose prior to the act giving rise to forfeiture under this chapter.

(b)

Next, to the City for all expenditures made or incurred by it in connection with the publication of the notices set forth in this chapter, and sale of the vehicle, including expenditures for any necessary repairs, storage or transportation of any vehicle seized under this chapter; and

(c)

Lastly, the remaining funds, if any, shall be distributed to the City to cover the costs of implementing the program.

(§ 1, Ord. 1104, eff. December 14, 2006)