(a) In the event that any territory then within the boundaries of one or more districts is (as the result of the incorporation of a municipality subsequent to the establishment of such district or districts or subsequent to the then most recent alteration, if any, of the boundaries of any such district or districts, as the case may be) included within the corporate limits of such municipality, then, from and after the date that is 90 days after the date of the first election of the members of the governing body of such municipality, but in all events subject to Section 45-41-141.07,

(1) Such territory shall be excluded from such district or districts, and

(2) Any financial charge theretofore authorized hereunder to be levied and collected within such territory shall not be authorized to be so levied and collected,

(b) And the commission, as promptly as practicable thereafter shall take such action as shall be necessary to alter the boundaries of such district or districts so as to exclude such territory therefrom and to ratify and confirm the exclusion of such territory from such district or districts [including, without limitation, the filing of a description or appropriate map or maps in accordance with subsection (d) of Section 45-41-141.02]. However, if, not later than 90 days after the date of election referred to above, the governing body of such municipality duly adopts a resolution describing such territory (or such portion or portions thereof as the governing body may in its discretion determine) and approving the continued inclusion of such territory (or such portion or portions thereof) within such district or districts, such territory (or such portion or portions thereof) so described in such resolution shall continue to be included in such district or districts, all as if such incorporation had not occurred; it being understood, however, that the commission may at any time thereafter alter the boundaries of such district or districts or exclude such territory therefrom, in accordance with Section 45-41-141.04. The governing body of such municipality shall cause a certified copy of such resolution to be delivered, promptly after the adoption thereof, to the commission. In the event that such territory is so excluded from such district or districts as a result of the failure of such governing body to adopt such a resolution within the period of time described above, such territory may nevertheless thereafter be included in a district or districts upon compliance with the applicable provisions of subsection (a) of Section 45-41-141.02 (including authorization by the governing body of the affected municipality).