(a) If the applicant for the license has filed the proper application and has paid the proper fee as specified in Section 731.02 hereof, and the Mayor or his agent is satisfied that all information requested is properly given, then a license shall be issued.
(b) The game room, card room or amusement arcade license shall be displayed in a prominent place in the business establishment. It shall be the duty of the owner to display such license during the period covered by the license.
(c) For the purpose of this chapter, all licenses shall terminate on December 31 of each calendar year and there shall be no prorating of fees. If any licensed machine, device or table is replaced or substituted during the registration period, a new application for such machine, device, or table must be submitted with a five dollar ($5.00) fee. The Mayor or his agent shall then issue a new license for such machine, device or table for the balance of the registration period.