(a) Upon approval of the application and payment of an annual license fee of fifty dollars ($50.00), a license to display one mechanical amusement device or one juke box shall be issued to the applicant.
(b) The license fee shall be for the fiscal year beginning January 1 of the calendar year or for any unexpired portion of the fiscal year. The license shall entitle the licensee therein named to display at or upon the premises therein described one mechanical amusement device or juke box.