The Chief of Police shall provide permanent license tags together with registration cards, which tags and cards shall have numbers stamped thereon in numerical order beginning with number one. Such tags shall be suitable for attachment upon the frame of bicycles, and it shall be the duty of the Chief of Police to issue to each owner one which shall be attached by such owner to the frame of the bicycle, and to issue a corresponding registration card to the owner, upon the payment of the license fee as provided in this chapter. Such tags shall remain attached to the bicycle for which it was issued until the bicycle has been demolished or so long as the owner of the bicycle is a resident of the City.