(a) No person shall hold any public dance or public ball or hold classes in dancing or give instruction in dancing for hire in any hall or academy, except for school buildings and buildings owned by the Village, within the limits of the Village until the dance hall in which the same may be held is duly licensed for such purpose. The license shall be issued by the Mayor and the fee therefor shall be paid at the time the license is issued and shall be graded as follows:
(1) For all dance halls having a floor space not exceeding 5,000 square feet, the annual license fee shall be a minimum of ten dollars ($10.00) per year.
(2) If the dance hall has a floor space exceeding 5,000 square feet, but not exceeding 6,500 square feet, the annual license fee shall be fifteen dollars ($15.00) per year.
(3) If the dance hall has a floor space exceeding 6,500 square feet, the annual license fee shall be twenty dollars ($20. 00) per year.
(b) The above fees shall be payable as follows:
(1) If the application is received between July 15 and October 15, the full fee;
(2) If the application is received between October 15 and January 15, three-fourths of the fee;
(3) If the application is received between January 15 and April 15, one-half of the fee; and
(4) If the application is received between April 15 and July 15, one-fourth of the fee.
(c) In computing floor space, only that portion of the floor actually used for dancing shall be considered. Each license granted hereunder shall expire on July 15 each year. All moneys received by way of license fees shall be paid into the General Fund of the Village and every public dance hall shall post its license in a conspicuous place within the hall where the dance is held.