An application for a new or renewal license shall be filed with the City Clerk accompanied by a fee in the amount of $100. Upon payment of the license fee, receipt of the application and receipt of the certificate of inspection, the City Clerk shall issue a license, valid for one year from the date of issuance, to the applicant, which he or she shall keep displayed in his or her place of business at all times. Any change of ownership of the business licensed shall require a new application and license, with payment of fees therefor.