(a)
(1) It is realized that waterworks and electric light plants and sewers will wear out and must be repaired and replaced, and that with the growth of our cities and towns, improvement and extensions of these plants and sewers are necessary from time to time.
(2) So far as municipal improvement districts, created for the purpose of installing waterworks and electric light plants and sewers, have funds, they may make these repairs, replacements, improvements, and extensions.
(b)
(1) If it is necessary to borrow money for the purpose of making repairs, replacements, improvements, or extensions, the board of improvement of the district shall cause plans and estimates of cost thereof to be prepared and shall file them with the city or town clerk or recorder.
(2)
(A) If the improvements so to be made will benefit property beyond the limits of the district as then existing, they shall file with their report a map showing the boundaries of the original district and the territory to be annexed thereto.
(B)
(i) If within twelve (12) months thereafter, a petition signed by parties claiming to be two-thirds (2/3) in assessed value of the real property in the original territory and in the territory to be annexed, each taken separately, is filed with the city or town clerk or recorder, requesting that the repairs, replacements, improvements, or extensions be made, he shall give notice of a hearing upon the petition to be had at the next regular meeting of the city or town council held at least fifteen (15) days after the publication of a notice.
(ii) The notice may be substantially in the following form:
“Notice is hereby given that the Commissioners of Water (or Electric Light or Sewer) Improvement District No. , of the City (or Town) of , have filed their plans for repairs, replacements, improvements, or extensions, in my office, and there has been filed in my office a petition signed by parties claiming to be a two-thirds in value of the owners of real property within said district, as shown by the last county assessment on file (and within the territory proposed to be annexed) praying that the repairs, replacements, improvements, or extensions be made. Said petition will be heard at a meeting of the City (or Town) Council to be held at the hour of p.m., on the day of , 19 , and at said meeting said Council will determine whether those signing the petition constitute the two-thirds in value of such owners of real property; and at said meeting all owners of real property within the district (and within the territory to be annexed) who desire, will be heard upon the question. “The territory to be added to the district is described as follows: The City Clerk (or Town Recorder)”
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