Application for a license shall be addressed to the governing body, shall be in writing, verified by the affidavit of the applicant or his or its duly authorized agent or office, and shall state the following facts: the full name and address of the applicant; if a partnership, the name and address of each partner; if a corporation, the names and addresses of the officers and directors thereof; previous experience he or it has had in such business; the number of taxicabs desired; the seating capacity of each taxicab, according to manufacturer's rating; name of manufacturer; the state license number; and the length of time the said taxicab has been in use; a full and complete statement of an applicant's financial standing, showing assets and liabilities; a statement of method of operation; a schedule of fares to be charged by the applicant and the method of computing the same; and the color scheme of applicant's cabs. (2003 Code § 5-09-05)