1. A proceeding for the incorporation of such territory as a village shall commence with a petition. The requirements for such petition are as follows: a. Petitioners. Signatures from at least twenty percent of the residents of such territory qualified to vote for town officers in a town in which all or part of such territory is located shall be required in order to commence a proceeding for the incorporation of such territory as a village. b. Contents of petition. The petition shall contain the following information:

1. (1) An allegation of the basis on which the petition is signed.
2. (2) The name of the proposed village.
3. (3) An allegation that such territory contains a population of at least one thousand five hundred regular inhabitants.
4. (4) The manner in which the area requirements of section 2-200 of this article are satisfied.
5. (5) A designation of at least one but no more than three persons, giving full names and addresses, on whom and at which addresses all papers required to be served in connection with the proceeding for incorporation, shall be served. A majority of such designees must reside in such territory.
6. (6) Each page of the petition and all exhibits and certifications shall be securely fastened together. c. Exhibits and certifications. Each copy of the petition shall have attached thereto prior to the signature pages:
7. (1) A description of such territory sufficient to identify the location and extent of such territory with common certainty and which shall be in one of the following forms or a combination thereof: (a) a metes and bounds description; (b) a description made with reference to existing streets and navigable waters or a combination of same; or (c) a map showing existing streets and navigable waters or a combination of same forming boundaries or metes and bounds or the entire boundaries of one or more districts of an entire town.
8. (2) A list of the names and address of the regular inhabitants of such territory.
9. (3) Study of proposed village and surrounding town or towns. A study that addresses the fiscal, service, and taxation interests of the population which would constitute the residents of such territory to be incorporated as a village, as indicated in clause (a) of this subparagraph, and that provides for an impact assessment that shall evaluate the fiscal and operational effects of incorporation of the proposed village on the surrounding town or towns wherein the village would be incorporated, as indicated in clause (b) of this subparagraph. The study shall include a certification that it sets forth all the elements required by this section.

10. (a) Fiscal, service, and taxation assessment of proposed village. An assessment of the fiscal, service, and taxation interests of the population which would constitute the residents of such territory to be incorporated as a village, must include the following elements of the proposed village:

    1. (i) Inventory. List the number of parcels by property classification. For each such property, list the full valuation and taxable assessed value as appearing on the most recent applicable final assessment roll.
    2. (ii) Taxes. Provide a fiscal estimate of all taxes that could be collected for the structures and places listed on the inventory this clause requires to be developed. The town or towns' current property tax rate and assessment should be used in developing the fiscal estimate.
    3. (iii) Revenue. Other than taxes, list all other sources of revenue expected to be generated for the area of the proposed village.
    4. (iv) Operations. Provide an estimate of what it would cost to operate the proposed village listing expenditures required in connection with the appointment or hiring of personnel to provide the services identified pursuant to item (v) of this clause, the holding of meetings of the board of trustees, and designating an official newspaper.
    5. (v) Services. List the municipal services currently provided within the area of the proposed village and how such services are provided, list all municipal services proposed to be provided upon incorporation of the proposed village, and how such municipal services are expected to be provided. Municipal services may include, but are not limited to: police; fire; water; sewer; enforcement of any planning, zoning, and land use regulations; and, enforcement of the New York state uniform fire prevention and building code and energy conservation construction code.

11. (b) Impact assessment and study of surrounding town or towns. An impact assessment that provides an evaluation of the fiscal and operational effects of incorporation of the proposed village on the surrounding town or towns wherein the village would be incorporated, must include the following elements:

    1. (i) Revenue and expenditures. List the estimated taxes, other revenue and expenditures for the area of the town or towns outside of the proposed village.
    2. (ii) Fiscal impact. A description of the manner and means by which the residents of the area of the town or towns outside the proposed village will continue to be furnished municipal services following the village's incorporation, an estimation of any change in the property tax rate for the area of the town or towns outside of the proposed village to continue such services. Provide such estimate with respect to the area of the town or towns outside the proposed village services only.
    3. (iii) Economic impact. Assess the potential economic impact to the town or towns outside of the proposed village upon incorporation of such village.
    4. (iv) Land use impact. Assess the potential impact to the town or towns outside of the proposed village from the loss of land use, planning and zoning control within the area proposed to be incorporated.
12. (c) Submission. The study must be submitted to the commission and filed in the manner provided by this subdivision. d. Execution of petition. (1) The signatures to a petition shall be subscribed on a separate page or pages following the exhibits.
13. (2) Prefatory statement. Each signature page shall be prefaced by a statement of the basis on which the petition is signed and of the petitioners' familiarity with the contents and purpose thereof and the boundaries of the territory sought to be incorporated.
14. (3) Additional information. Following each signature there shall be set forth, not necessarily by the signer, the signer's address consisting of street name and number, if any, and town.
15. (4) Authentication. There shall be set forth at the bottom of each page of signatures an authenticating affidavit of a witness to the signing thereof which shall be in substantially the following form: STATE OF NEW YORK COUNTY OF ss.: ....................................................... being duly sworn, (name of witness) says: I reside at ..................................................... in the (street name and number) ................................. of .................................... (town, city or village) (name of municipality) ............................................... in the State of New York: I know each of the persons whose names are subscribed to the above sheet having .................................... signatures; and each of them (number) subscribed the same in my presence. ................................... (signature of witness) Sworn to before me This .................. day of .................., ....................
16. (day)
17. (month)
18. (year) ............................... (official title of officer) e. Filing and deposit. (1) Filing. The original petition, the study and all exhibits and certifications required by this section shall be filed with the commission. Duplicate originals, photocopies or other similar reproductions of the original petition, the study and all exhibits and certifications required by this section shall be filed with the town clerk of each town in which any portion of such territory is located.
19. (2) Deposit. At the time of filing of the petition there shall be deposited with the department of state, on behalf of the commission, the sum of six thousand dollars to pay the cost of posting, publishing and serving required notices, stenographic services and services of inspectors of election in the event incorporation is not effected.