(A) All licensing fees or renewal fees assessed herein shall accrue interest at the legal rate, compounded daily, for each day or portion of a day that the fee remains due and unpaid after the due date.
(B) Any licensee who fails to pay the licensing fee when due shall be subject to a penalty of $1,000 per day for each day or any part of each day that the fee remains unpaid.
(C) If any due date falls on a Saturday, Sunday or legal holiday, the fee shall be due and payable without penalty or interest on the next day that is not a Saturday, Sunday or legal holiday.
(D) For good cause shown, if payment is made within five days of the due date, the penalties and interest prescribed by this section may be waived in the discretion of the Department.
(Lou. Metro Ord. No. 44-2005, approved 4-19-2005)