(1) To establish a property assessed clean energy program, a governing body shall take the following actions in the following order:

    (a) Adopt a resolution of intent that includes all of the following:

    (i) A finding that the financing of projects is a valid public purpose.

    (ii) A statement of intent to provide funds for projects, which may be repaid by assessments on the property benefited, with the agreement of the record owner.

    (iii) A description of the proposed arrangements for financing the program.

    (iv) The types of projects that may be financed.

    (v) Reference to a report on the proposed program as described in section 9(1) and a location where the report is available pursuant to section 9(2).

    (vi) The time and place for a public hearing on the proposed program.

    (b) Hold a public hearing at which the public may comment on the proposed program, including the report described in section 9(1).

    (c) Adopt a resolution establishing the program and setting forth its terms and conditions, including all of the following:

    (i) Matters required by section 9(1) to be included in the report. For this purpose, the resolution may incorporate the report or an amended version of the report by reference.

    (ii) A description of aspects of the program that may be amended without holding a new public hearing and aspects that may be amended only after a new public hearing is held.

    (2) The governing body may amend a property assessed clean energy program by resolution. Before adopting the resolution, the governing body shall hold a public hearing if required under subsection (1)(c).