Any licensee may renew his license at the expiration thereof; provided, that he is then qualified to receive a license and the premises for which such renewal license is sought is suitable for such purposes; provided, further, that the renewal privilege herein provided for shall not be construed as a vested right which shall in any case prevent the Village President from decreasing the number of licenses to be issued within his jurisdiction. (1979 Code § 3-4-12)