The city council may, in its resolution of intention adopted pursuant to Section 3.128.080 of this chapter, fix the earliest date following the formation of the proposed maintenance benefit area when said maintenance benefit area may be dissolved pursuant to a majority protest of the owner or owners of property within the maintenance benefit area. No such date shall be fixed unless the city council shall find and determine that:
A. The additional maintenance service is likely to be provided by a contractor of the city; and
B. In order to obtain favorable contract terms it is reasonably necessary to enter into an agreement with the contractor that does not provide for its termination, except for cause, prior to date so fixed by the city council.
In no event shall any such date be fixed which is later than the end of the third fiscal year following the fiscal year in which the resolution of intention is adopted. If such a date is fixed in the resolution of intention, all notices given pursuant to Article III of this chapter shall contain a statement of the date so fixed. (Prior code § 55.06.605)