The term of such license shall be 15 years. The city shall charge the licensee an annual license fee, in lieu of all other license and business and occupational taxes, which shall be payable on or before July 1 in each year. The annual license fee shall be fixed from time to time by resolution of the City Council. Timely payment of the annual license fee shall entitle the licensee to continue to enjoy those rights and privileges granted to it by such license for the next ensuing year commencing July 1 of such year and ending on June 30 of the next following year.
(Prior Code, § 5.08.050) (Ord. 303, passed - -1979; Ord. 334, passed - -1982; Ord. 358, passed - -1987)