Upon receipt of the report described in Section 3.120.050 of this chapter, the city council may declare its intention to designate an area of benefit by adopting a resolution of intention which shall include the following:
A. A definitive description of the specific public facilities project(s), the cost of which is proposed to be imposed upon the properties within the area of benefit;
B. A capital improvement program with respect to the public facilities project(s);
C. The proposed boundaries of the area of benefit;
D. Information concerning the method pursuant to which the costs are proposed to be apportioned among the parcels within the area of benefit in proportion to the estimated benefits to be received by those parcels and an estimate of the amount of the facilities benefit assessments which will be imposed upon each such parcel;
E. The basis and methodology by which automatic annual increases in the facilities benefit assessment will be computed, assessed and levied, without the necessity for further proceeding pursuant to Section 3.120.140 of this chapter, if, on the discretion of the city council, such automatic annual increases are determined to be necessary;
F. The amount of the contribution or advance, if any, which the city or other governmental entity will make toward the total cost; and
G. The date, time and place at which the city council will hold a hearing to consider the matter of designating the area of benefit. (Prior code § 39.01.006)