Upon receipt of written application for a fireworks permit, the city manager shall make an investigation and submit to the city council a report of his findings and his recommendations for or against the issuance of a permit, together with his reasons therefor. After receipt of such recommendations and report, the city council shall have the power, in its discretion, to grant or deny the application. Any permit granted by the city council may be subject to such reasonable conditions and restrictions as may be imposed by the city council and such conditions and restrictions shall be complied with by the permittee. The city council shall require a cash deposit with the city clerk in the sum of one hundred dollars ($100.00) for each twenty four feet (24') in length or portion thereof, of the fireworks stand to be used by the applicant as a condition of granting a permit. Such deposit shall be refunded to the permittee upon compliance with all code provisions, but such deposit shall be forfeited and retained by the city in the event of noncompliance. (1960 Code)