The director of finance administration may designate as his duly authorized agent any bicycle dealer as defined in 39006 of the Vehicle Code for the purpose of issuing bicycle licenses pursuant to this chapter. The director of finance administration is authorized to issue rules and regulations to implement the provisions of this section and may authorize such agents to retain one dollar ($1.00) of each license or transfer issued under the provisions of this chapter for performing such licensing function. (1962 Code § 3-1.01 et seq.)