The speed limit for both directions of traffic along the streets or parts thereof described in Schedule XVII (§ 183-55), attached to and made a part of this chapter, is hereby established at the rate of speed indicated.
Regulatory and warning signs shall be erected and maintained to effect the above-designated speed limits as authorized by the Department of Transportation.
Any person violating the provisions of this article shall, upon conviction, be subject to a fine of not less than $25 nor more than $200 and imprisonment for not less than 10 days nor more than 30 days for a first offense. For a second or subsequent offense within a twenty-four-month period, such person shall, upon conviction, be subject to a fine of not less than $50 nor more than $400 and imprisonment for a period of not less than 15 days nor more than 60 days.