A. There shall be no prorating of the aforementioned fees, and such licenses shall expire on the thirty-first day of December each year; except that in the event that the original application is made subsequent to June 30th, then one-half of the annual license fee may be accepted for the remainder of the year. The licenses shall not be assignable.

B. Any application not renewed by January 31st of the year shall bear a ten percent penalty charge, if being renewed by the original owner, or his successor(s). (Ord. 296 § 7, 1976).