The Bastrop City Council voted 6-0 to return the money to Timothy Yost, 47, who discovered the 70 $100 bills and 40 South African Krugerrand gold coins Jan. 18 on the banks of the Colorado River at Fisherman's Park, and his attorney said he is expected to receive the money within 48 hours, the Austin American-Statesman reported Wednesday.
"It is a great day for Bastrop; it is a great day for Mr. Yost," said Yost's attorney, Aleta Peacock.
Peacock, who confirmed Yost is currently in jail, said she had filed a lawsuit asking for the money to be returned.
Bastrop City Attorney Jo Christi Brown told the council there was no evidence the money had come from illegal drugs or other crimes.
"The city wishes Mr. Yost the best of luck," Mayor Terry Orr said.