(a) When a law enforcement officer employed by a city of the first class, city of the second class, or incorporated town retires from service or dies while still employed with the city of the first class, city of the second class, or incorporated town, in recognition of and appreciation for the service of the retiring or deceased law enforcement officer, the mayor, city manager, or city administrator of the city of the first class, city of the second class, or incorporated town may award the pistol carried by the law enforcement officer at the time of his or her death or retirement from service to:
(1) The law enforcement officer; or
(2) The law enforcement officer's spouse if the spouse is eligible under applicable state and federal laws to possess a firearm.
(b) When a law enforcement officer retires from service, the law enforcement officer may purchase the shotgun he or she used while on duty at the fair market value as determined by the mayor, city manager, or city administrator of the city of the first class, city of the second class, or incorporated town.