(A) No license or sticker, tag, place or symbol shall be issued to the city for any delinquent license taxes unless such person, with the consent of the Collector, enters into a written agreement with the city, through the Collector, to pay such delinquent taxes, plus 10% simple annual interest upon the unpaid balance, in monthly installments, or more often, for a period not to exceed one year.
(B) In any agreement so entered into, such person shall agree that he or she owes the city delinquent license taxes plus interest thereon and that in the event of his or her failure to make timely payment of any installment the whole amount of the unpaid delinquency plus accrued interest shall become immediately due and payable and any current business license shall be revocable by the Collector upon 30 days notice. In the event legal action is brought by the city to enforce collection of any amount due under the agreement, such person shall be liable to the city for all costs of suit incurred by the city or its assignee, including reasonable attorney’s fees. The execution of such an agreement shall not eliminate the accrual of penalties on unpaid balances at the rate provided in this chapter; provided, however, no penalties shall accrue on account of those delinquencies included in the agreement after the execution of the agreement and the payment of the first installment nor during such time as such person is not in breach of agreement.
(`78 Code, § 5.02.340.)