Each license shall be issued for a period of one calendar year. The calendar year license fee for each license shall be an amount as established by resolution of the city council. In addition there shall be issued a license for each particular machine used by the licensee and the fee for each individual machine shall be an amount as established by resolution of the city council per machine. The license fee shall be payable prior to January 31st for the year required or prior to commencement of business in the city. For any license procured after the applicable date required in this section, there is assessed and shall be collected by the city clerk, in addition to the required annual license fee, a penalty as established by resolution of the city council on the annual license fee for each month or part of a month accruing between the time such license is procured and the time when the same should have been procured under the terms of this chapter. (Ord. 88-16 § 12, 1988: Ord. 79-40 § 4, 1979)