If the chief of police shall approve the application prescribed by section 13-159, the business license administrator shall issue the license therefor, upon receipt of a bond as provided by section 13-166, and the payment of the appropriate annual license fee as follows:

    (1)    Detective agency:

        a.    Employing not more than five (5) persons . . . . $100.00

        b.    Employing more than five (5) persons . . . . 200.00

    (2)    Private detective: $25.00.

(Code 1964, § 11.770)