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(b) Action. The council may either sipprove or deny the licenso; or it may delay action -for such reasonabl.6.period.of time as necessary to .complete any investigation of the application or the applicant it deems necessary..Ii`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 be given. to the applicant along with notice oftthe applicant's right to appeal the council's decision. .(c). license period and renewal. Micense: issued under this chapter shall be. an annual license,. expiring on December gi of.each year. Any existing business selling eannabinoid-products within the city as. of the effective date of this article, shall file all required lieensd applications hereunder, along with the license and investigation.fees,. no.later than *September 30, 2027. A license may be annually renewed; provided the licensee complies with the renewal application process as follows: (I) The.licensee shall complete the renewal application materials provided bythe- city, W The completed renewal application materials; along with the. iipense.fee, shall be filed with:city clerkno later than.N6vemb.er:30 ofthe rene.wal.year; (3) The licensee shall provide all.information regarding business ownershiprinterest. If ownership interests have changed, an additional investigation -fee is required (d) .Licerise.and investigation fees. The license andinvestigation fees shall be determined by the City Council as set forth in Woodbury CityCode Chapter 2, Admilfistratioti, (i) All licenses. shall expire.on the last day of December in each year. Each license C shall be issued fore period of -one year, except that if a portion of the license..year has elapsed when the application is made, a license maybe issuedforthe remainder of the year fora pro rata fee. Jn.computing such fee, any unexpired fraction of a month shall be caunted as one month. tel Revoeatiatt or suspension. Any -license issued under this article may be*revoked-or suspended as provided in section 11-622 vitilatioris.and penalties; of this article. (f) Transfers. All licenses issued under this article-shall.be w�thd only on the premises for which the license was issued and only for the person(q) or entity to whom the license was issued. Any attempt at transfer to another location{ person, or entity. shall invalidate the license. It is the duty of each businesslicensee to notify theCity 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 attysuch license: shall be revoked.30days after -any such change in. ownership 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 ofa 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 time examine the transfer records and minutebooks of any business -licensee to verify and 'identify the owners, and the City may examine the business r&Dfds of any other licensee to the extent necessary to disclosetbe interest which .persons..other than the licensee have in the licensed business.. The Council may. -revoki , aay license issued upon its determination that a change of ownership of.a licensee has actually -Tesulted.in.the. change of control