The Village Clerk may receive applications for licenses and grant the same except where this Chapter provides that the President and Board of Trustees shall grant the same, upon the party applying for the same presenting to him a receipt from the Village Treasurer for the amount fixed by ordinance for the object for which the license is desired, and each license so issued by the Clerk shall contain a condition that the same shall be forfeited if the holder thereof shall violate any of the provisions of any ordinance of this Village or law of this State, and that the same may be revoked at any time by the President and Board of Trustees. (Ch. 4 § 3)