It shall be the duty of the Chief of Police, as Tax Collector ex-officio, when the extended copies of the Recorder's books are completed to receive one copy thereof, receipting to the Common Council for the same, and for the taxes therein extended, and it shall be his duty to collect from the parties the net amount of taxes with which they are therein severally charged, and such levy and assessment shall be delivered to such collector on or before the first day of June in each year. From and after the first day of June in each year, and until the fifteenth day of July succeeding, any citizen and taxpayer shall have the right to make payment of his taxes to such collector, and if paid by such taxpayer, within that time he shall be entitled to a discount of two percentum (2%), and the tax receipt delivered up to him. If the taxes so levied, assessed and placed in the hands of said collector for collection shall not be paid on or before the fifteenth day of July in each year, then it shall be the duty of said collector to collect all such taxes remaining unpaid by distraint and sale and otherwise according to law. He shall also receive such other moneys of the Town as he is authorized by this charter to receive, and all moneys ordered paid him by the Common Council, giving receipts therefor to the parties paying, and shall keep an accurate account of the same, and his books shall at all times be open for inspection to any taxpayer of the said Town, and he shall produce said book to said Common Council for inspection at any meeting thereof upon the order of the Common Council; he shall pay over promptly all moneys which he may receive within ten days into the hands of the said Recorder, who shall be ex-officio Treasurer of said Town. He shall also on or before the first day of January of each year present to the Common Council a full, complete and detailed statement of all money with which he was chargeable or that have been received by him up to that time; and shall at the same time furnish a statement of all dues, taxes and assessments uncollected and a statement of the reason for the same. He shall at any other time upon the order of the Common Council submit a statement of the amount of money and dues with which he is chargeable; and shall receive all taxes upon licenses arid receipt to the party paying the same by endorsement upon the permit granted by order of the Common Council, which permit shall be furnished him by the Recorder, and charge himself with the amount so received, and report to the Common Council at its next regular meeting thereafter the amount so received, and pay the same to the Recorder. He shall, upon all moneys coming into his hands and duly turned over by him to the Recorder, receive as compensation therefor a sum to be fixed by the Common Council not exceeding five percentum (5%) on the amount collected; and shall upon the expiration of his term of office turn over to the Common Council, all moneys, taxes and other property in his possession belonging to the Town. He shall on entering upon the duties of his office execute a bond with good security, payable to the Town of Paden City, in the penalty of not less than four thousand dollars ($4,000), conditioned for the faithful performance of the duties of his office and for the accounting for and paying over, as required by law, all moneys which may come into his hands by virtue of his office; he shall be chargeable with all Town taxes, levies, assessments and moneys, of the Town that may come into his hands and shall account therefor. He shall pay into the hands of the Recorder as ex-officio Treasurer all moneys in his hands taking the said Recorder's receipt therefor.