After the examination for a taxicab operator's license as provided in Section 769.04, if the Chief of Police is satisfied that the applicant possesses the proper qualifications, he shall so certify to the City Manager in writing and recommend that such license be issued. The City Manager shall then issue the license in compliance with Section 769.02, upon the payment of the required fee as set forth in Section 769.07 and upon the execution of the required bond or liability insurance set forth in Sections 769.08 through 769.10. (1947 Code, Sec. 8-62.)