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funds shall be deposited in the general fund of the city~ and <br />the retained property may be placed into use by the police <br />department. <br /> <br /> (c) The owner of the property shall be entitled to apply <br />to the city within three (3) years from the date of sale and, <br />if timely application is made therefor, and satisfactory proof <br />of ownership of the proceeds or property is made, the city <br />treasurer or the chief of police, as applicable, shall pay the <br />remaining proceeds of the sale to the owner of the property, or <br />return the property to the owner, without interest or other <br />charges or compensation. No claim shall be made nor any suits <br />action or proceeding instituted for the recovery of such <br />proceeds or property after three (3) years from the date of <br />sale. <br /> <br /> 2. That this ordinance shall take effect on the date of <br />its adoption. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, a~ a meeting held on April 25, 1995. <br /> <br />Teste: <br /> <br />Ciuy Clerk <br /> <br /> <br />