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Section 29-34. Disposition of Proceeds. <br /> <br /> The Chief of Police or his duly authorized agent shall <br />pay from the proceeds of the sale the costs of advertisement, <br />removal, storage, investigation as to ownership and'liens, <br />and notice of sale. The balance of the funds shaI1 bedeposited <br />in the general fund of the City of Portsmouth.- Any such owner <br />shall be entitled to apply-to the City of Portsmouth within <br />three.years from the date of the sale and, if-timely application <br />is made therefor, upon satisfactory p~oof of ownership,.the <br />City Trsasurer shall paythe remaining proceeds of the sale' <br />to the owner without interest or othercharges. Noclaim <br />shall be made nor any suit, action or proceeding be instituted <br />for the recovery of suCh~funds after three years from the <br />date of the sale. <br /> <br /> 2. That this ordinance shall take effect from the <br />date of its adoption. <br /> <br /> Adopted by the Council of the City of Portsmouth, Virginia, <br />at a meeting held August 24, 1982. <br /> <br />Teste: <br /> <br />CityClerk <br /> <br /> <br />