Based on the study provided for in § 9-4-4.1, the governing body may adopt a resolution of intent to extend its boundaries. The resolution, in municipalities of less than one thousand in population as determined in the last federal census, shall contain the following:

1. (1) The description and boundaries of the territory to be annexed;
2. (2) That ample and suitable resources exist to accommodate the orderly growth or development of the contiguous territory;
3. (3) The estimated difference in tax assessment rate for the residents in the contiguous territory;
4. (4) That exclusions and irregularities in boundary lines are not the result of arbitrariness;
5. (5) That there is reasonable present or demonstrable future need for annexing the contiguous territory; and
6. (6) That population and census data indicate that the municipality has or may experience growth or development beyond its present boundaries.

Source: SL 1988, ch 74 , § 2.