Each exhibitor shall pay an annual license fee of $125.00 for the first coin-operated gaming machine or pool table displayed on the premises. Each exhibitor shall pay an annual license fee per each coin-operated gaming machine or pool table displayed on his premises of $75.00 each for the second through sixth coin-operated gaming machines or pool tables, or combination thereof, to a maximum total annual licensing fee of $500.00 per establishment. The annual licensing fee shall be payable on the first day of January of each year. In the event the coin-operated gaming machines or pool tables are placed in operation between January 1 and June 30 the annual licensing fee shall be the full amount as if in operation since the first day of January. In the event the coin-operated gaming machines or pool tables are placed in operation between July 1 and December 31, the licensing fee shall be paid in an amount equal to one-half of the annual licensing fee, with the full annual licensing fee being payable the first day of January next. (1993 Code 113.04)