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If the owner is identified, he shall be notified immediately by certified or registered mail that such vehicle is held by the police department of the city. The notice to the owner shall also state:

A. The reason for impounding the vehicle;

B. The existing costs charged against the vehicle;

C. An estimate of future costs, including the cost of advertising the vehicle for sale; and

D. That unless the owner redeems the vehicle, within ten days from the day of mailing the notice if the address of the owner is within the state of Oregon, or within twenty (20) days of the day of mailing the notice if the address of the owner is without the state of Oregon, and pays all the costs, the vehicle:

1. Will be advertised for sale, in accordance with Section 10.24.060, and

2. Will be sold at a public auction, at a definite time and place within the city to the highest and best bidder for cash, or otherwise disposed of as by law provided. (Ord. 4-1963 § 5, 1963.)