The City Clerk shall, upon proper authorization of the Mayor and Council, issue a permit to the applicant. The applicant's application shall be incorporated in the permit by reference, and all the provisions of the application shall bind the permit holder. The permit shall provide that a fee charge of three percent (3%) of the gross receipts per annum shall be paid by the permit holder to the City on January 1 of each year throughout the term of the permit. The permit shall further provide that in the event that the permit holder has not commenced work within a required number of days inserted on the permit, as of the date of issuance of the permit, that the permit shall be void. (Ord. 965, 8-24-81)