The capsule, which contained poems and pictures from local schoolchildren, as well as newspapers and business flyers, was buried in The Ridings Memorial Garden during a ceremony in 2018.
Earlier this month, the capsule was dug up and later found destroyed.
Sgt Rob Turner, from the Neighbourhood Policing team, said: “Following a social media post about the time capsule being dug up, two teenagers attended a police station with their parents, and they’ll be voluntarily interviewed at a future date in connection with the criminal damage offence.
“The contents of the capsule, which had been strewn under a hedge, was also handed into the police station.
“Sadly, some of the contents have been destroyed by the weather but we’ve been able to dry out and salvage all of the children’s pictures and most of the photos, which we’ll give back to the original owner of the capsule.
“We’d like to thank the community for their ongoing support with this investigation.”