All licenses shall expire at one o'clock (1:00) A.M. on the following September 1, and shall be subject to annual renewal upon proper application. Renewal applications for licenses accompanied by the required fee must be filed with the city on or before the following September 1, provided, however, any licensee holding a valid license who fails to file an application for renewal of the current license on or before the following September 1 shall have a grace period of an additional thirty one (31) days in which to file an application for renewal of the license. The licensee shall not be permitted to sell beer at retail during the thirty one (31) day extended time period unless and until the license is renewed. (Ord. 1004 § 9, 2008)