When an application is received for a license, an investigation shall be conducted as follows:

A. Upon receipt of the above application, the city clerk shall refer the same to the city manager or chief of police, who shall cause an investigation of the facts stated therein to be made within not to exceed five days.

B. If, as a result of the investigation, the applicant's character or business responsibility is found to be unsatisfactory or the facts stated therein to be untrue, the chief of police shall endorse on such application his findings and endorse his disapproval of the application and his reasons for the same, and shall return the application to the city clerk, who then shall notify the applicant that his application is disapproved and that no license will be issued.

C. If, however, the investigation of such application discloses that the character and business responsibility and the facts stated in his application are satisfactory and true, the chief of police shall endorse his findings and approval on the application and return the same to the city clerk, who shall, immediately upon payment of the license fee prescribed hereafter, issue a license to the applicant to engage in the business described in the application. Such license shall show the name, address and photograph or fingerprints of said licensee and the kind of goods to be sold or services rendered and the amount of fee paid, the date of issuance and the length of time the license shall be operative. (Prior code § 6-119)