In the event the licensee shall acquire a new vehicle of the same class and the use of a licensed vehicle of the said class shall be discontinued, the licensee may transfer the issued and outstanding license to the new vehicle upon payment of a transfer fee of one dollar ($1.00), provided that portion of the previous vehicle tag or sticker indicating the number thereof and the receipt therefor are presented to the Village Treasurer at the time of application for transfer. (Ord. 3335, 2-22-00; Amd. Ord. 3543, 9-27-01; Amd. Ord. 3975, 1-17-05)
In the event the licensee shall acquire a new vehicle of a class licensed pursuant to Section 9-1-4 of this Chapter, where the license fee shall be a higher amount as herein specified for the new vehicle, the amount of license fee heretofore paid shall be credited to the higher fee for said new vehicle.