(A) Upon receipt of an application, the city may cause an investigation of the applicant's business reputation and moral character to be made.
(B) The City Clerk shall approve the application unless such investigation discloses tangible evidence that the conduct of the applicant's business would pose a substantial threat to the public health, safety, morals, or general welfare. In particular, tangible evidence that the applicant:
(1) Has been convicted of a crime of moral turpitude; or
(2) Has made willful misstatements in the application; or
(3) Has committed prior violations of ordinances pertaining to itinerant merchants, peddlers, solicitors, and the like; or
(4) Has committed prior fraudulent acts; or
(5) Has a record of continual breaches of solicited contracts; or
(6) Has an unsatisfactory moral character will constitute valid reasons for disapproval of an application.