If the plans and specifications and report are finally approved by the board, it shall adopt a resolution to that effect. The resolution shall set forth:

1. (a) The harbor to be improved, developed or protected, designating it by the name by which it is commonly called.
2. (b) The plan or system of improvement, development or protection to be employed.
3. (c) The estimated cost, and the amount to be raised by the sale of bonds to carry out the plan or system of improvement, development or protection.