(A) Upon receipt of such applicant, the Village Clerk shall cause such investigation of the applicant’s business and moral character to be made as he deems necessary for the protection of the public good.
(B) If as a result of such investigation the applicant’s character or business responsibility is found to be unsatisfactory, the Village Clerk shall endorse on such application his or her disapproval and his or her reasons for the same and shall notify the applicant that his or her application is disapproved and that no license shall be issued.
(C) If as a result of such investigation, the character and business responsibility of the applicant are found to be satisfactory, the Village Clerk shall endorse on the application his or her approval, execute a license addressed to the applicant for the carrying on of the business applied for and, upon payment of a prescribed license fee in an amount to be determined from time to time by the Village Council, deliver to the applicant his or her license. Upon application and good cause shown, license fees may be waived by the Village Council. The Clerk shall keep a permanent record of all licenses issued.
(O.C. § 7.5)