The annual license fee to be paid for each bicycle shall be the sum of one dollar ($1.00) for each calendar year or fraction thereof, and pursuant to the provisions of this chapter, such license may be transferred when the ownership of said bicycle is transferred and a fee of fifty cents ($0.50) shall be paid for the registration and transfer of any bicycle sold. All license fees collected under the provisions of this chapter shall be paid to the clerk of the city and placed in the general fund. (Ord. 490, 8-7-1941; amd. 1987 Code)