Each person to whom such license may be issued shall be required to pay the Finance Director, before such license is issued, a license fee of forty dollars ($40.00), which shall cover the period of the calendar year beginning January 1 and ending December 31 of each year. In the event the license is issued during the calendar year, the fee charged shall be in proportion to that of the calendar year then remaining.
(1955 Code § 315.05)