Upon filing the application, approval thereof by the Town Council, and payment of the required fees as fixed in § 113.04, and provided the other stipulations and conditions hereof have been met, the Clerk-Treasurer shall issue to the applicant a license permitting the operation of the motor vehicle or motor vehicles described in the application for one year, commencing January 1 and ending December 31 of each year, subject to revocation as hereinafter provided.