Upon receipt of an application for a license to operate a taxicab, the City Clerk shall investigate all the facts stated in the application. If the City Clerk deems it advisable that the applicant should be permitted to operate or conduct a taxicab business in the city, he shall approve the application and shall thereupon issue the license upon the payment of the fee and the filing of the insurance policy as provided in § 114.04. If the City Clerk does not deem it advisable that the applicant should be permitted to conduct this business, he shall reject the application and no license shall be issued to the applicant. The applicant may appeal from this decision by filing a statement of appeal with the Board of Commissioners, whereupon the Board shall pass upon the application and shall approve or reject it.