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The annual license fee for each taxicab so licensed shall be as established by the city council by periodic resolution, payable in advance at the time of application therefor, and all such licenses shall expire on December 31st thereafter. The license fee for less than one year shall be prorated, and in the event the license is rejected, the deposited license fee shall be returned to the applicant. (Ord. 914, 1989; Ord. 289, 1946)