(b) Notwithstanding any other provision of law, a local agency formation commission shall not approve a proposal that includes the formation of a district unless the commission determines both of the following:

1. (1) That the public interest requires the formation of the proposed district.
2. (2) That the proposed district will have sufficient revenues to carry out its purposes.

(e) Notwithstanding Section 57075 of the Government Code, the local agency formation commission shall take one of the following actions:

1. (1) If a majority protest exists in accordance with Section 57078 of the Government Code, the commission shall terminate proceedings.

2. (2) If no majority protest exists, the commission shall either:

   1. (A) Order the formation subject to the approval by the voters.
   2. (B) Order the formation subject to the approval by the voters of a special tax or the approval by the property owners of a special benefit assessment, pursuant to subdivision (c).