(b) Issuance of licenses to commercial lessors. If the governing body of the municipality shall determine that the applicant seeking to lease a hall or premises for the conduct of bingo to an authorized organization is duly qualified to be licensed under this article; that the applicant satisfies the requirements for an authorized commercial lessor as defined in section four hundred seventy-six that at the time of the issuance of an initial license, the governing body of the municipality shall find and determine that there is a public need and that public advantage will be served by the issuance of such license; that the applicant has filed its proposed rent for each bingo occasion; that the commission has approved as fair and reasonable a schedule of maximum rentals for each such occasion; that there is no diversion of the funds of the proposed lessee from the lawful purposes as defined in this article; and that such leasing of a hall or premises for the conduct of bingo is to be in accordance with the provisions of this article and in accordance with the rules and regulations of the commission, it shall issue a license permitting the applicant to lease said premises for the conduct of bingo to the authorized organization or organizations specified in the application during the period therein specified or such shorter period as the governing body of the municipality shall determine, but not to exceed one year, upon payment of a license fee of ten dollars plus an amount based upon the aggregate rent specified in the license and determined in accordance with the following schedule: aggregate rental of $100 to $499 ....................... $5.00
aggregate rental of $500 to $999 ...................... $25.00
aggregate rental of $1,000 to $2,499 .................. $50.00
aggregate rental of $2,500 to $4,999 ................. $125.00
aggregate rental of $5,000 to $9,999 ................. $250.00
aggregate rental of $10,000 to $49,999 ............... $500.00
aggregate rental of $50,000 to $100,000 ............ $2,500.00
aggregate rental in excess of $100,000 ............. $5,000.00