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F. Confirmation that no employee or principal officer of the organization has been convicted of a felony. No employee or organization whose principal officers and employees with a felony conviction, shall be employed in a gambling related activity by any permitted organization. 2. Upon receipt of the materials required by Paragraph 1 above, and not later than sixty (60) days from receipt of notice from the Gambling Control Board, City staff shall investigate the applicant, and based upon said investigation, the City Council shall act on the application. 3. The action of the City Council to approve an applicant for a Premises Permit or Bingo Hall License within the City shall be by resolution. Failure to receive a majority affirmative vote of the City Council shall constitute a denial of the application. 4. Copies of any other reports or documents which are required to be subsequently filed by such organization with the Gambling Control Board, including monthly financial statements, shall be filed with the City within ten (10) days of filing such materials with the Gambling Control Board. 5. To assure compliance with this ordinance, the City may require a Premises Permit holder or Bingo Hall licensee to provide copies of their records described in Minnesota Statute 349.215. 6. A premises permit issued by the City under this ordinance may be suspended by the City for violation of ordinance or revoked for failure to meet the qualifications set out in Section 119.020, or a willful violation of any part of Section 119 of the City's ordinance, or a failure to comply, for any reason with any provision, guarantee, or claim made in an applicant's original license application to either the City or the State of Minnesota. 7. No license or permit issued by the City, including any Binqo Hall License, grants the licensee a prorerty right or entitle- ment to the license or permit. The City may refuse to issue, renew or revoke the license or permit for any reason and will not incur liability for any damages including, but not limited to, direct, consequential or incidental damages, deprivation of property, loss of income, loss of profits, or loss of livelihood. 8. All Class A licensees and permittees in the City shall use a certified public accounting firm for all accounting, bookkeeping and tax preparation services related directly to lawful gambli~g and charged as an allowable expense of the gambling operation. All agreements providing for such services shall be in writing and shall be submitted to the city as part of the application for review by the city to