All fees and charges for licenses or permits shall be paid in advance at the time of application. Except where expressly provided that but one fee or charge shall be paid, renewal fees shall be due and payable on the first business day of the year succeeding the year during which the license or permit is issued. In case a bond is required for the license or permit, the bond must be a surety company bond to be approved by the Village Manager and must be filed with the Manager or other official by whom the permit or license is to be issued.
(1959 Code, § 21-3)