If the personal property is not reclaimed under Section 8.24.060 within forty five days after taken into custody, the City Recorder shall proceed to sell the personal property at public auction in the manner of personal property sold under execution under the laws of the state, as provided by ORS 23.450 through 23.480 and all amendments thereto. After any personal property has been sold under this provision, the former legal owner, owners or person entitled to possession has no further right, title, claim or interest in and to the personal property.