The city council shall adopt a resolution of intention to establish an area. The resolution shall contain the following information:
(a)
Description of the boundaries of the proposed area;
(b)
The time and place of a hearing to be held by the council to consider establishment of an area;
(c)
The proposed uses to which the proposed revenue shall be put; and
(d)
The initial or additional rate or levy, of the license tax, with a breakdown by class of business if such classification is to be used.