(a) Proceedings for the establishment of a district shall be instituted by the adoption of a resolution of intention to establish the proposed district and shall do all of the following:

(1) State that a district is proposed to be established pursuant to this division and describe the boundaries of the proposed district, which may be accomplished by reference to a map on file in the office of the clerk of the city or in the office of the recorder of the county, as applicable.

(2) State the type of eligible projects proposed to be financed or assisted by the district.

(3) State the need for the district and the goals the district proposes to achieve.

(b) The city, county, or city and county, shall enact a resolution providing for the division of taxes of any participating entity pursuant to the procedures for the preparation and adoption of an infrastructure financing plan described in Sections 53398.59 to 53398.74, inclusive. A district that completes these procedures shall follow the procedures for the division of taxes and issuance of tax increment bonds described in Sections 53398.75 to 53398.88, inclusive.

(Added by Stats. 2022, Ch. 266, Sec. 1. (SB 852) Effective January 1, 2023.)