7-21-4101. General licensing power of municipalities. (1) The city or town council has power:

(a)to license by ordinance all industries, pursuits, professions, and occupations and to impose penalties for failure to comply with such license requirements;

(b)to fix the amount, terms, and manner of issuing and revoking licenses.

(2)The council may refuse to issue licenses when it may deem it best for the public interests.