§ 15-9-106 — Initiative resolution; how adopted; findings

(a) No municipality shall exercise the authority conferred
upon municipalities by this chapter until the local governing
body, on its own motion or by virtue of a petition signed by
twenty-five (25) or more electors of the municipality, has
adopted a resolution finding that:
(i) One (1) or more slum or blighted areas exist in
the municipality; and
(ii) The rehabilitation, conservation, redevelopment
or a combination thereof of the area or areas is necessary in
the interest of the public health, safety, morals or welfare of
the residents of the municipality.