Upon receipt of such application, the original shall be referred to the Chief of Police, who shall within three workdays after the receipt thereof cause such investigation of the applicant's business and moral character to be made as he deems necessary for the protection of the public good.
If as a result of such investigation the applicant's character or business responsibility is found to be unsatisfactory, the Chief of Police shall endorse on such application his disapproval and his reasons for the same, and return the said application to the City Clerk, who shall notify the applicant that his/her application is disapproved and that no permit will be issued.
If as a result of some investigation, the character and business responsibility of the applicant are found to be satisfactory, the Chief of Police shall endorse on the application the approval and return said application to the City Clerk, who shall notify the applicant that his application has been approved. Such permit shall contain the signature and weal of the issuing officer and shall show the name and address of the applicant, the kind of goods to be sold thereunder, the date of issuance, and the length of time the same shall be operative.