177. Section 10. The council shall by ordinance prescribe the terms and conditions upon which licenses may be granted; and may require and exact payment of such reasonable sums for any licenses as it may deem proper. The persons receiving the license shall, before the issuing thereof, execute a bond to the city, when required by any ordinance, in such sum and with such sureties as prescribed by such ordinance, conditioned for the faithful observance of the charter of the city, the ordinance under which the license is granted and otherwise conditioned as any such ordinance may prescribe. Such license shall be revocable by the council at pleasure; and when any license shall be revoked for noncompliance with the terms and conditions upon which it was granted, the person holding such license shall, in addition to other penalties imposed, forfeit all payment made for such license.