Sec. 39. (a) During January of each year, the municipal fiscal officer shall determine all amounts of overpayments on the special assessment rolls for public improvements that have been unclaimed for at least five (5) years. The fiscal officer shall prepare a detailed statement showing the following information for each overpayment:

(1) The date.

(2) The number of the receipt.

(3) The amount overpaid.

(4) The book and page where the overpayment is recorded.

(5) The owner of record of the property on which the overpayment was made.

     (b) After preparing the statement described in subsection (a), the municipal fiscal officer shall give notice by publication in accordance with IC 5-3-1. The notice must do all of the following:

(1) Contain the names of the owners of record of the property affected by the assessment.

(2) State the amounts of the respective overpayments.

(3) State that the overpayments will be transferred to the general fund of the municipality unless the owners or the owners’ legal successors or assigns appear and provide proof of their claims to the overpayments not later than thirty (30) days after the date of the first publication of the notice.

     (c) At the expiration of the thirty (30) day redemption period under subsection (b), the municipal fiscal officer shall transfer and pay the unclaimed overpayments into the general fund of the municipality. The amounts transferred shall be used and expended in the same manner as other money in the general fund.

As added by P.L.98-1993, SEC.8.