It shall be unlawful for any person, firm or corporation to carry on the business of a junk dealer or shipper or storer of junk, or of a junk collector or peddler within the Town without first having obtained a license to do as hereinafter provided. Any person, firm or corporation desiring such license shall make application therefor to the Town Clerk-Treasurer. Such application shall be in writing and shall set forth the full name of the applicant, his/her residence and the location at which such junk is to be kept or stored, and the licensee shall not store or hold junk at any other place in said Town. Such applicant shall file with the Town Clerk-Treasurer a bond in the sum of $500 with sureties to be approved by the governing body, conditioned that the principal named therein will observe all ordinances and police regulations of the Town. Such application shall be submitted to the governing body, and if the governing body shall approve such applicant and the location, it may order the issuance of the license.