The matter of granting stands for licensed taxicabs shall be left to the discretion of the licensing officer, except that no such stand shall exceed one regular parking space, nor shall it be granted unless a fee is paid in accordance with a schedule to be promulgated by the licensing officer. No right to stands granted pursuant to this section shall be assignable or transferable, and all such rights shall be subject to cancellation by action of the licensing officer, with or without cause, if such cancellation is found by the licensing officer to be for the best interests of the City. Unless sooner cancelled, the rights incident to all stands so granted by the licensing officer shall expire on the thirty first day of December of the year in which granted, and if granted for a period of less than one year, the costs thereof shall be pro rated accordingly. (Ord. 1202, 1973)