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Home My WebLink AboutORDINANCE 04-920 a ORDINANCE NO.4-92 AN ORDINANCE CONCERNING THE TOWN OF ESTES PARK’S DISPOSITION OF UNCLAIMED PROPERTY WHEREAS,certain property held by or under the control of the Town of Estes Park is owned by an individual or entity and may be unclaimed by the owner;and WHEREAS,the Town of Estes Park desires to establish an administrative procedure for notification and,where possible, transfer of unclaimed property to the owner;and WHEREAS,the Town of Estes Park desires to dispose of unclaimed property after notification has been provided;and WHEREAS,this local procedure for administration and disposition of unclaimed property is authorized pursuant to Section 31—13—104(1)C.R.S. BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN OP ESTES PARK,COLORADO: Section 1.Purpose: The purpose of this Ordinance is to provide for the local administration and disposition of unclaimed property which is in the possession of or under the control of the Town of Estes Park. Section 2.Definitions: Unless otherwise required by contract or use,words and terms are to be defined for the purpose of this Ordinance as follows: A.Unclaimed Property: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 Town of Estes Park and which has not been claimed by its owner for a period of more than one (1)year after said property has become payable or distributable.Unclaimed property includes,but is not limited to the following: 1.Deposits for electric service. 2.Overpayment on utility services. 3.Uncashed payroll checks. 4.Money or property from police seizure. 0 C) C C 5.Lost and found money or property deposited with the Town,including weapons left with the Police Department. 6.Unclaimed appearance bonds in Municipal Court. B.Town:The Town of Estes Park,Colorado. C.Owner:The person or entity,including a corporation,partnership,association,governmental entity,other than the Town,or the duly authorized legal representative or successor in interest of the same,which owns unclaimed property held by the Town. D.Finance Officer:The Town’s Finance Officer or designee thereof. Section 3.Procedure for Disposition of Property: A.Prior to disposition of any unclaimed property having an estimated value of $50.00 or more,the Finance Officer 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 Town 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 shallstatewheretheownermaymakeinquiryoforclaimtheproperty. The notice shall also state that if the owner fails to provide the Finance Officer 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 Town and any claim of the owner to such property shall be deemed forfeited. B.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 Finance Officer shall cause a notice to be published in a newspaper of general circulation in the Town.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 or claim the property.The notice shall also state that if the owner fails to provide the Finance Officer 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 Town and any claim of the owner to such property shall be deemed forfeited. —2— 0 a .•j .,( •1 --.L 0 0 C.If the Finance Officer receives no written claim within the above sixty (60)day claim period,the property shall become the sole property of the Town and any claim of the owner to such property shall be deemed forfeited. D.If the Finance Officer receives a written claim within the sixty (60)day claim period,the Finance Officer 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 Finance Officer 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. E.In the event that there is more than one claimant for the same property,the Finance Officer may,in the FinanceOfficer’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. F.In the event that all claims filed are denied,the property shall become the sole property of the Town and any claim of the owner of such property shall be deemed forfeited. G.Any legal action filed challenging a decision of the Finance Officer 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 Finance Officer pursuant to the order of the Court having jurisdiction over such claim. Section 4.Police and Fire Pension Benefits. The provisions of this Ordinance shall apply to any unclaimed property held by the Town as a benefit under the Town’s Police and/or Fire Pension Fund,unless the owner,within three (3)years after it has become payable or distributable,has communicated concerning the unclaimed property,or otherwise indicate an interest as evidenced by a memorandum or other record on file with the Town.The provisions of Section 3,hereof,shall be followed with regard to procedure for disposition of said unclaimed property from the Police and/or Fire Pension Fund of the Town. Section 5.sale or Disposition of Property. A.At any time after any unclaimed property becomes the sole property of the Town,pursuant to the provisions of Section 3 of this Ordinance,the Finance Officer may,in his solediscretion,sell said property at a public or private sale without notice.The purchaser of said property at any sale conducted by the Finance Officer,pursuant to this section,takes —3— 0 0 0 0 the property free of all claims of the owner or previous holderthereofandallpersonsclaimingthroughorunderthem.The Finance Officer shall execute all documents necessary to complete the transfer of ownership to the purchaser. B.The Finance Officer may,in his sole discretion,at any time following the date upon which any unclaimed property shall become the sole property of the Town,destroy or dispose of any unclaimed property at any time.No action or proceeding may be obtained against the Town or the Finance Officer,on account of any action taken by the Finance Officer,pursuant to thissection. Section 6.The adoption of this Ordinance is herebydeclaredanemergencyduetothefactthatitisnecessaryto adopt an Unclaimed Property Ordinance prior to July 1,1992 and; WHEREAS,it is the opinion of the Board of Trustees that an emergency exists and this Ordinance shall take effect and beenforcedimmediatelyafteritspassage,adoption and signature of the Mayor. PASSED AND ADOPTED BY THE TRUSTEES OF THE TOWN OF ESTES PARK,COLORADO THIS0%hDAY OF JUNE,1992. TOWN OF ESTES PARK By:______ Mayor ATTEST: Town Clerk I hereby certify that the above Ordinance was introduced and readatameetingoftheBoardofTrusteesonthe2’—day of June, 1992,and published in a newspaper of general circulation in the Town of Estes Park,Colorado on thejzeday of June,1992. 32 C’(i-,’ Town Clerk —4— C)