After reviewing the preliminary report the city council may require revisions take place to the proposed district. If the legislative body determines that the public interest and convenience require the formation of an open space district, it may adopt a resolution declaring its intention to form a district pursuant to the provisions of this chapter. The resolution of intention, in addition to making the foregoing determination, shall also contain:
A. All contents set forth in the preliminary report;
B. A statement of the service charge necessary to finance the maintenance of the items specified in Section 12.40.050(C) as estimated, which is subject to change periodically by city council based upon documentation of increasing maintenance costs;
C. A statement regarding the method of collection of the service charge which is subject to change based upon city council approval;
D. The day, hour and place for the hearing by the council of protests and objections to the formation of the proposed district. A statement that any owner of any separately assessed parcel or lot liable to be assessed a service charge for the maintenance, may protest the formation of the proposed district, or the extension of the district boundaries, or both, by filing a written protest with the clerk at any time not later than the hour fixed for the hearing. The time for the hearing shall not be less than ten or more than sixty (60) days from the date of the adoption by the council of the resolution of intention. (Prior code § 7073.7)