§ 250. Lost and found property. The governing boards of municipal
corporations may by resolution enact rules and regulations for
administering the provisions of article seven-b of the personal property
law and may provide the following:

(a) the designation of a public officer to accept and keep custody of
found property and found instruments;

(b) procedures for determining the value and for estimating the net
sum likely to be realized by sale at public auction of lost property as
defined in article seven-b of the personal property law;

(c) a procedure for the disposition of derelict automobiles and other
property having no value or salvage value only;

(d) longer or shorter periods of time for the report and deposit of
found property and instruments by specified classes of persons having
possession thereof or for either such report or such deposit, provided,
however, that such rules and regulations so enacted by a county or town
shall not supersede rules and regulations with respect to time for
report and deposit, or for either report or deposit, so enacted by any
municipal corporation within its limits, except to such extent as may be
provided by an agreement pursuant to section two hundred fifty-one of
this chapter;

(e) provisions for notices, reports, storage, and sales of found
property not inconsistent with the provisions of article seven-b of the
personal property law;

(f) the payment of proceeds from the sale of lost property as defined
in article seven-b of the personal property law into a public fund other
than the treasury of the municipal corporation.