Application for a bicycle license plate shall be made to the Chief of Police upon a form to be approved by him and shall be accompanied by a fee of three dollars ($3.00) if the license is valid for a period of three years from the date of issue or two dollars ($2.00) if the license is valid for a period of two years from the date of issue or one dollar ($1.00) if the license is valid for a period of one year or less from the date of issue, said fee to become the property of the City at the time of issuance of the license. If the Chief of Police approves the application, he shall so indicate in writing thereon. In the event that the Chief of Police does not approve the application, he shall return the fee to the applicant. (1979 Code 75.19)