All licenses issued by the Mayor and Council pursuant to this chapter shall expire on the first Tuesday of May succeeding the issuance thereof, unless sooner revoked as provided in Section 882.11. Upon the payment of twenty-five dollars ($25.00) for each taxicab or motor vehicle for hire, and upon filing liability insurance, as required in Section 882.06, a license and license plate or tag for each motor vehicle license shall be issued. Such license plate or tag shall be displayed in a conspicuous place upon the taxicab or motor vehicle for hire.
(1979 Code Sec. 12.08.050)