A renewal license shall be issued by the Village Clerk each year to any person, firm or corporation holding a license at the expiration of the previous year, upon payment of the license fee as set by the Board of Trustees and filing a renewal of the required bond and proof of financial responsibility.
If, however, the application for the renewal license is not made within 30 days after the expiration of the prior existing license, such license shall be deemed to have lapsed. A new license shall not be issued except upon new application made pursuant to §§
174-3 and
174-4 of this chapter.