(A) Upon receipt of an application, the Clerk-Treasurer shall cause an investigation of the applicant's business reputation and moral character to be made.
(B) The Clerk-Treasurer shall approve the application unless the investigation discloses tangible evidence that the conduct of the applicant's business would pose a substantial threat to the public health, safety, morals, or general welfare. In particular, valid reasons for disapproval of an application will be constituted by tangible evidence that the applicant:
(1) Has been convicted of a crime of moral turpitude;
(2) Has made willful misstatements in the application;
(3) Has committed prior violations of ordinances pertaining to itinerant merchants, peddlers, solicitors, and the like;
(4) Has committed prior fraudulent acts;
(5) Has a record of continual breaches of solicited contracts; or
(6) Has an unsatisfactory moral character.