(a) Upon receipt of the application provided for in Section 870.03, Council, before acting upon it, may refer the same for investigation to an officer of the City, who shall report to Council within a reasonable time. If, upon receiving such application, upon receipt of such report after referral of the application, Council is satisfied that the business to be conducted by the applicant is not intended to cheat or defraud the public, it shall grant such license to the applicant.
(b) Before the license is issued, the applicant shall deposit five hundred dollars ($500.00) with the City Treasurer and shall pay to the City Clerk a fee equal to one hundred dollars ($100.00) per month for the length of time for which such license is to be issued. If the license is to be used for less than one month, the fee therefor shall be at the rate of ten dollars ($10.00) per day for the period of such license. A surety company bond in a like amount may be deposited with the Treasurer in lieu of a cash deposit, provided, however, that a special license may be issued by the Clerk in a case where the applicant is a transient merchant conducting business, including the sale of food, in connection with a licensed circus, carnival or outdoor show and, in that event, upon receiving a fee of five dollars ($5.00) for each day scheduled by such licensed circus, carnival or outdoor show, and upon the registration of such applicant's fingerprints with the Police Department, the Clerk may issue such a temporary license without the approval of Council and without filing any bond with the Treasurer. However, such special license is subject to this chapter and shall expire at the expiration of the license issued for such circus, carnival or outdoor show.