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All licenses issued under the terms of this chapter shall expire at the end of the calendar year following the date of issuance thereof. If the license sought is issued for a period of time less than one year, only a proportionate part of the annual fee based on quarters of a year, shall be exacted and collected; provided, however, a fractional part of any quarter of the year shall be counted as one quarter in calculating the fee which is to be paid.
(‘68 Code, § 5-25) (Ord. 79, passed 9-11-33)