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(b) Upon receipt of the written report and recommendation <br /> by the Chief of Police and within 30 days thereafter, the City <br /> Council shall instruct the City Clerk to cause to be published <br /> in the official newspaper 10 days in advance, a notice of a <br /> hearing to be held by the City Council, setting forth the day, • <br /> time, and place when the hearing will be held, the name of the <br /> applicant, the premises where the business is to be conducted, <br /> and such other information as the City Council may direct. At <br /> the hearing the opportunity shall be given any person to be <br /> heard for or against the granting of the license. After the <br /> hearing the City Council may either grant or deny the license. <br /> If the license is granted, the City Council may withhold its <br /> issuance until the applicant has qualified in all respects for <br /> the license. If the premises to be licensed are not complete <br /> at the time that the hearing is conducted, the City Council <br /> may grant the license but shall withhold its issuance until <br /> the premises have been completed in accordance with the <br /> representations made by the applicant. The license fee shall <br /> be due as of the date the license is granted. If a license <br /> has been granted but its issuance has been withheld pending <br /> completion of the premises to be licensed, and if the licensee <br /> does not proceed with reasonable dispatch to ready the premises, <br /> the City Council may rescind the action granting the license. <br /> Such action shall not be taken, however, without giving the <br /> licensee at least ten (10) days notice of the time and place <br /> of a hearing on the proposed rescission. <br /> (c) The City Clerk shall, within 10 days after the <br /> issuance of any license under this section, submit to the <br /> liquor control commissioner the full name and address of each <br /> person granted a license, the trade name, the effective license <br /> date, and the date of expiration of the license. He shall also <br /> submit to the liquor control commissioner any change of address, <br /> transfer, cancellation, or revocation of any license by the City <br /> Council during the license period. <br /> 40.070. Bond. <br /> (a) At the time of filing an application for a license, the <br /> applicant shall file a bond with corporate surety, with the City <br /> Clerk. Such bond shall be in the amounts following: <br /> "On Sale" license $10,000 <br /> "On Sale-Wine" license $ 5,000 <br /> (b) The surety bond required by paragraph (a) of this <br /> subdivision shall be subject to the approval of the City Attorney <br /> as to form and exe�ution. <br /> (c) The surety on such bond shall be a surety company duly <br /> licensed to do business in the State of Minnesota. Al1 surety <br />