There is hereby levied on all persons engaged in the business of pawnbroker an annual occupation tax in accordance with the City of Grand Island Fee Schedule, which occupation tax shall be paid to the city treasurer who shall give a receipt for such payment. If the city council in its discretion grants a license to operate as a pawnbroker for a six months' period to any person applying therefor, the occupation tax to be charged in such an event shall be in accordance with the City of Grand Island Fee Schedule.