Simplify the following text for a Grade 6 native English-speaking person.
Original: On May 2 , 1720 , the town rights were approved by King August II , and the town was allowed to organize one fair a week and four markets a year .
Simplified: On May 2 , 1720 , by King August II let the city keep its rights , and the town was allowed to have one fair a week and four markets a year .