3-1-5: TERMS OF LICENSES AND PERMITS:
   A.   Annual: All annual licenses and permits shall terminate on the last day of the fiscal year of the Village in which they are issued, where no provision to the contrary is made.
   B.   Daily: Each daily license or permit shall terminate at twelve o'clock (12:00) midnight of the day for which the license or permit is granted.
(1970 Code §3-1-2-6)