Applications for a license or renewal of a license shall be made to the Mayor on application blanks furnished by the City Clerk. Such applications shall contain sufficient information to enable the Mayor to determine the eligibility of the applicant for such license. Each application for a license or renewal thereof shall be accompanied by a bond in the penal sum of $2,000 payable to the city with good and sufficient surety acceptable to the city, conditioned on the applicant's faithful compliance with the laws of the state of Illinois and the provisions of this subchapter, as amended. Each application for renewal of a license issued under this subchapter shall be filed with the City Clerk by the first of April of each year. Each application for a license shall be accompanied by payment of the annual fee or semiannual installment if permitted by this subchapter.
(‘82 Code, § 5.04.050)