A legislative authority shall, after receiving a valid initiation petition under RCW 35.101.020, adopt a resolution of intention to establish an area. The resolution must state:

     (1) The time and place of a hearing to be held by the legislative authority to consider the establishment of an area;

     (2) A description of boundaries in the proposed area;

     (3) The proposed area uses and projects to which the proposed revenues from the charge shall be dedicated and the total estimated cost of projects; and

     (4) The estimated rate or rates of the charge with a proposed breakdown of classifications as described in RCW 35.101.050.

[2003 c 148 § 3.]