(1) within 45 days after receiving the comments submitted to the organizing committee under § 4-205(c) of this subtitle; or

(2) if the county commissioners or county council has not submitted comments, within 90 days after the report is submitted by the organizing committee under § 4-205(a)(1)(iii) of this subtitle.

(b) The organizing committee shall submit statements with the proposed municipal charter describing:

(1) the likely fiscal effect of the proposed incorporation on residents of the proposed municipality, residents in the vicinity of the proposed municipality, and the county;

(2) the services that the proposed municipality is expected to provide; and

(3) the impact that the proposed incorporation is expected to have on property tax rates.