A. As often as is necessary, the City Traffic Engineer will be provided with a list of all unclaimed vehicles which have been towed and stored by or for the City which:

1. Have been in storage 15 days or longer and have been appraised at a value of $750 or less, or;

2. Have been in storage for 30 days or longer.

B. The City Traffic Engineer will, as soon as convenient, authorize the sale of, or sell such vehicles in accordance with the provisions of any contract authorized by the Council. If there is no such contract, the City Traffic Engineer will sell such vehicle at public auction.

1. If a vehicle is sold in accordance with the provisions of a contract, the Director of the City Traffic Engineer will ensure, at the time of sale, a certificate of sale in substantially the following form is issued to the purchaser:

"CERTIFICATE OF SALE

This is to certify that under the provisions of the Traffic Regulations of the City, I did on the . . . . day of . . . . . , 19 . . . sell to . . . . . . . . . . . . . of . . . . . . . . . . . . . for the consideration . . . . . . . . . . Dollars ($ . . . .) the following described personal property:

(Brief description of property)

Dated this . . . . day of . . . . ., 19 . . . .

. . . . . . . . . . . . . . . . .

City Traffic Engineer

NOTE: The City of Portland assumes no responsibility as to condition or Title of the above described property. In case this sale is for any reason invalid, the liability of the City is limited to return of the purchase price."

2. If the City Traffic Engineer decides to sell any vehicles held pursuant to this Chapter at public auction, notice of the time and place of such auction sale must be given by publication in the official paper of the City for a period of at least 10 days prior to the date of such sale. Such vehicles must be sold to the highest bidder for cash.