All such licenses shall be renewed for a period of three years in the following manner. Each owner or operator of a bicycle shall secure from the Chief of Police, on or before August 21 of every third year, a new license tag which shall replace the old tag and be attached on the frame under the seat by a seal. The purchase of the new tag shall be recorded. Additional renewals shall be made each three years thereafter in the manner and at the time herein provided for the first renewal.
No operator or owner of a bicycle shall for any reason be entitled to a refund of any part of any license fee or renewal fee. (1979 Code 75.21)