(a) All payments made under the provisions of this chapter shall be made to the Town and said rentals shall be due and payable on the first day of July of each year; provided, however, if the permit is issued for such space after the first day of July, the amount of the initial payment shall be prorated from the date when such permit is issued to the first day of July of the next year, and payments shall be due and payable on July 1st thereafter.
(b) Any such rent shall become delinquent on the first day of August of each year and such delinquent rent shall bear interest at the rate of one percent per month until paid, and if such rent is not paid for six months or more after such delinquent date, a penalty of five percent shall be added thereto, in addition to said interest. (Passed 6-27-17.)