All transient merchants or itinerant vendors, before offering for sale
any goods, wares, merchandise or bankrupt stock, shall pay to the City Clerk
for the use of the city the sum of $2,500, and upon payment of such sum, the
transient merchant or itinerant vendor shall be entitled to apply for and
receive a license, which shall continue in favor of the person to whom it
is issued for the period of 180 days from the date of issuance. Such license
shall not be transferable and shall apply only to the business location and
persons therein named.