(a)   The Chief of Police, upon receiving proper application therefor, is authorized to issue a bicycle license which shall be effective until the bicycle is sold or is no longer usable.
   (b)   The Chief of Police shall not issue a license for any bicycle when he knows, or has reasonable grounds to believe, that the applicant is not the owner of, or entitled to the possession of, the bicycle.
   (c)   The Chief of Police shall keep a record of the number of each license, the date issued, the name and address of the person to whom it is issued, the number on the frame of the bicycle for which it is issued and all bicycle license fees collected by him.
(1979 Code 75.16)