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(b) Action. The council may either approve or denythe license,.or it may delay action for such reasonable period of time as necessary to complete any investigation of the application or the applicant.it deems necessary. If the council shall approve the license, the city.clerk.shall issue the license to the applicant. If the council denies the license, notice of the denial shall lie given to the :applicant along with notice of the applicant's. right to.appeal the. cotincil's.decision. (c) License period and renewal. A license issued under this chapter shall be an annual license., expiring. on December 31 of each year. Any existing business selling cannaMpoid products within the city as of the effective date of this article, shall file all required license, applications hereunder, along with the license andinvestigation fees, no later than. September 30, 2022. A license.rnaybe annuallyrenew.ed,. provided the licensee.complies with the renewal application process as follows: (x) The.licensee shall complete the.renewal application materials provided by the city; (2) The completed renewalapplication materials, along with the license fee, shall .be filed with city clerk no later. than November 8o of the renewal year; (3) The. licensee shall provide all information regarding:business ownership interest. If ownership interests have Changed, an additional investigation fee is required. (d). License and investigation fees. The license and investigation fees shall be determined by the City -Council as set forth in Woodbury City Code Chapter. 2, Administration. (7.) All licenses shall. expire on the last day of December in.each year. Each license shall beissued.for a period of one year, except that.if a portion of the license year has .elapsed when the application. is made., a. license may be. issued for the remainder of the year for a pro rata fee. In: computing such :fee, any unexpired. fraction of a month shall be counted as one month. (e) Revocation or suspension. Any license issued under this article. may be revoked or suspended as provided in.s.ection 1.1-522 violations and penalties, of this article. (f) Transfers: All.licenses issued under this article shall be valid only on the premises for which the license was issued and only for the person(s) or entity to whom the .license was issued. Any attempt at transfer toanother -location, person, or .entity shall invalidate the license. It is the duty of each business licensee to notify the City in. writing of any change in ownership in the business. Any change.in the ownership or control of the business shall be deemed equivalent to an attempt to transfer the license, and any such license shall be -revoked 3o days after any such change in ownersliip:or control .unless the licensee has notified the City of the change in ownership: by submitting a new license application for the new owners,. and the Council, has approved.the new license. Any. time an additional investigation is required because of a change in ownership or control of a business, the licensee shall pay an additional investigation fee. to. be determined by the City. The City may at any reasonable tune examine the transfer records and minutebooks. of any business licensee .to verify and identify the owners., and the City may examine the business records of any other licensee to the .extent necessary to disclose.the interest which personsother than the licensee have in the licensed: business. The Council may.revoke any license issued upon its determination that a change of ownership of a licensee has actually resulted in the change of control