Subject to the terms and provisions of this ordinance, the Village Clerk, shall cause to be issued a license to permit the operation of the commercial establishment or conduct of specified trade or occupation in the Village of Posen for a period of one license year which shall begin on May first of the year for which such license is issued and shall terminate on April thirty of the next year. No license shall be issued at the yearly rate of license fees except for the full license year unless otherwise specifically provided for herein; provided, however, that where such annual license is issued on or after the first day of November, the license fee shall be one-half (1/2) of the yearly license fee for the unexpired term of the license year. (Ord., 3-23-1976)