The Chief of Police shall have the right and authority to suspend or revoke any license issued under the provisions of this Chapter for any of the following reasons:
(a) If such licensee has violated any of the provisions of this Chapter;
(b) If such licensee is convicted of any offense specified in Section 140.04(g), except minor traffic violations;
(c) If such licensee violates any of the rules and regulations for institutional special police officers as set forth by the Chief of Police;
(d) If such licensee displays an institutional special police officer badge issued by the City in any employment as an institutional special police officer outside the corporate limits of the City;
(e) If such licensee's physical or mental condition becomes such as to render him or her unfit for the safe carrying out of the duties of an armed institutional special police officer, as determined by the Chief of Police using the criteria set forth in Section 140.04(d).