Immediately upon its filing with the City Clerk the application shall be furnished to the Police Chief who shall investigate and report to the Council at the next succeeding Council meeting his or her findings as to the character of the applicant and his or her auctioneer, the bona fide nature of the proposed sale, and whether the place where it is proposed to carry on the sale is a proper place. The Council must also be furnished satisfactory evidence that the jewelry proposed to be sold is a bona fide part of the merchant's stock in trade, and not secured, purchased, or brought into the place of business for, or in anticipation of, the sale. The Council, in considering the application and the attending facts, shall exercise a reasonable and sound discretion in granting or denying the permit applied for.
('61 Code, § 4-3.09) (Ord. 138 N.S., passed - - )