Any automobile dealership operating within the corporate limits of the village shall be required to purchase village vehicle licenses in the form and style furnished by the village, and shall attach such vehicle license to the Illinois state license plates. The fee for said dealer vehicle license shall be seven dollars fifty cents ($7.50) per annum, and shall be transferable among all vehicles owned by the automobile dealership. At the time of application, the automobile dealership shall inform the village as to the number of dealer vehicle licenses it shall require, and upon receipt of said application, the village clerk shall assign certain dealer vehicle license numbers to the automobile dealership, and maintain a record of the numbers issued to said automobile dealership. (1978 Code § 11-7-4)