Minnesota Session Laws - 1995, Regular Session

                             CHAPTER 79-H.F.No. 859 
                  An act relating to cities; authorizing cities to 
                  conduct private sales of unclaimed property through 
                  nonprofit organizations; repealing archaic language; 
                  amending Minnesota Statutes 1994, section 471.195; 
                  repealing Laws 1919, chapter 396. 
        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
           Section 1.  Minnesota Statutes 1994, section 471.195, is 
        amended to read: 
           471.195 [UNCLAIMED PROPERTY; DISPOSAL.] 
           (1) Any city may by ordinance provide for the custody and 
        disposal of property lawfully coming into its possession in the 
        course of municipal operations and remaining unclaimed by the 
        owner.  Such ordinance may provide for the sale of such property 
        to the highest bidder at public auction or sale following 
        reasonable published notice or by a private sale through a 
        nonprofit organization that has a significant mission of 
        community service, after the property has been in the possession 
        of the municipality for a period of at least 60 days.  If the 
        sale is to be by public auction, the city shall give ten days' 
        published notice describing the property found or recovered and 
        to be sold, and specifying the time and place of the sale.  The 
        notice must be published at least once in a legal newspaper 
        published in the city or if there is none in the city, published 
        in the county.  Consistent with other applicable statutory or 
        charter provision, the ordinance shall designate the fund into 
        which the proceeds of any such sale shall be placed, subject to 
        the right of the former owner to payment of the sale price from 
        the fund upon application and satisfactory proof of ownership 
        within six months of the sale or such longer period as provided 
        by ordinance.  
           (2) This section does not limit the power of any 
        municipality under any other statutory or charter authority.  
           Sec. 2.  [REPEALER.] 
           Laws 1919, chapter 396, is repealed. 
           Presented to the governor April 20, 1995 
           Signed by the governor April 21, 1995, 1:42 p.m.