A penalty of ten percent (10%) of the amount owed to the Village under this Chapter shall be assessed upon any person who shall fail to pay the license fee in accordance with the terms of this Chapter and prior to the date on which the tax or fee is due as specified herein. Thereafter, the Village Clerk/Treasurer shall assess an additional penalty of one percent (1%) per month, for each portion thereof after the first month that the license fee is unpaid. The Village Clerk/Treasurer shall not issue any occupation license or license of any kind until the license fee, plus all assessments and penalties due herein, are paid. (1976 Code § 9-3-9; amd. 2000 Code)