Upon receipt of such application for a license, accompanied by the proper fee, if approval by another officer or department is not required, the Municipal Clerk, by and with the approval of the Mayor, shall forthwith deposit the fee in the Treasury and issue to the applicant a proper license certificate signed by the Clerk and Mayor. If for any reason the license is not issued, the aforesaid deposit, less one dollar ($1.00) to cover expenses of considering such application, shall be returned to the applicant. (1964 Code Sec. 701.03)