Except for Class D licenses, each license shall terminate on the Tuesday after the second Monday in May next following the date of issuance. Any license fee must be paid in advance; however, Class A and C license fees may be paid in two (2) equal semiannual installments. If the term of the license is for less than one year, the fee to be paid shall be reduced in proportion to the full calendar months which have expired in the year prior to issuance. (Ord., 4-2-2002)