(a) Upon the petition of at least two-thirds (2/3) majority in assessed value, as shown by the last county assessment and the deed records in the office of the circuit clerk and ex officio recorder, of the owners of real property in any territory all or the larger portion of which lies within the corporate limits of any municipality, the governing body of the municipality shall, by ordinance, lay off into a consolidated utility district the territory described in the petition and shall appoint as commissioners of the district the three (3) persons who are nominated in the petition for the office of commissioner, provided that they are owners of real property in the district. If the petition does not contain the names of persons nominated as commissioners, the governing body shall appoint as commissioners three (3) owners of real property in the district.

(b) All such districts shall be numbered or given names as determined by the governing body. If the governing body does not act promptly to comply with the terms of this section, or of any other section of this chapter necessary to the creation or operation of the district, it may be compelled to do so by mandamus.

(c) The petition shall set forth the purposes of the district, and any district created under this chapter shall have all powers necessary or appropriate to the accomplishment of those purposes as provided in this chapter.

(d) The petition shall be filed with the city clerk. Upon the filing of the petition it shall be the duty of the city clerk to give notice that the petition will be heard at a meeting of the governing body of the municipality at the time set forth in the notice. The notice shall be published once a week for not less than two (2) weeks in a newspaper of general circulation in the municipality. The notice may be in the following form: