The license fee for a taxicab license shall be as set by Council ordinance. Each applicant for a license shall deposit such sums as the Council shall determine at the time of filing of the application, which amount shall be returned to the applicant if the application is denied. Any applicant who applies for the transfer of an existing license shall pay a pro rata fee for the time from the date of the application until the date the license shall expire.
(`89 Code, § 123.050)