If a law enforcement agency desires to sell property forfeited to it under § 17-50-404, the law enforcement agency shall:
(1) Publish at least two (2) times a week for two (2) consecutive weeks in a newspaper having general circulation in the county notice of the sale, including the time, place, conditions of the sale, and a description of the property to be sold;
(2) Send a copy of the notice of the sale to each person having ownership of or a security interest in the property by certified mail, return receipt requested, or in the manner provided in Rule 4 of the Arkansas Rules of Civil Procedure if: The property is of a type for which title or registration is required by law;
(3) The owner of the property is known in fact to the law enforcement agency at the time of seizure; or
(4) The property is subject to a security interest perfected in accordance with the Uniform Commercial Code, § 4-1-101 et seq.; and
(5) Dispose of the property at public auction to the highest bidder for cash without appraisal.