Upon any person failing, neglecting or refusing to make any report as required in this chapter, or as demanded by the City Manager or failing to afford and permit access to and inspection of any of his properties, books, records, papers or accounts by the City Manager and his appointees and agents as provided in this chapter, the franchise or permit under which such person so refusing and neglecting is then operating shall be subject to forfeiture at the option of the City Council by such means or procedure as the City Council may determine to employ. (Code 1962, § 21-3)