Where a bond has been provided by a licensee under Section 5.32.010, the street superintendent and the chief of police shall investigate all matters covered by said bond provisions within twenty-four hours after licensee ceases operations under the license and make report of their findings to the city clerk-treasurer recommending that the bond be released or be held pending further investigation. The city clerk-treasurer shall, upon receipt of recommendation that the bond be released and upon ascertaining that all admission taxes due the city have been paid in full, immediately release or refund the bond as the case may be. Any recommendation by the street superintendent or the chief of police that a bond be held for further investigation shall be referred to the city council for appropriate action. (Ord. 1040 § 7(a), 1949)