No person shall be eligible to apply for a taxicab franchise if he or she has a bad character or has been convicted of a felony within the last ten years. Applications for taxicab franchises shall be made under oath and in writing to the Board of Mayor and Aldermen. The application shall state the name and address of the applicant, the name and address of the proposed place of business, the number of cabs the applicant desires to operate, the makes and models of the cabs and such other pertinent information as the Town Clerk may require. The application shall be accompanied by at least two affidavits of reputable local citizens attesting to the good character and reputation of the applicant. Within ten days after the receipt of an application the Chief of Police shall make a thorough investigation of the applicant; determine if there is a public need for additional taxicab service; present the application to the Board; and make recommendation to either grant or refuse a franchise to the applicant. The Board shall thereupon hold a public hearing, at which time witnesses for and against the granting of the franchise shall be heard. In deciding whether or not to grant the franchise, the Board shall consider the public need for additional service, the increased traffic congestion, parking space requirements and whether or not the safe use of the streets by the public, both vehicular and pedestrian will be preserved by the granting of such an additional taxicab franchise. Those persons already operating taxicabs when this code is adopted shall not be required to make applications under this section but shall be required to comply with all of the other provisions hereof.
(`83 Code, § 5-402)