Before undertaking any improvements pursuant to KRS 91A.200 to 91A.290, the city shall prepare a comprehensive report setting out:
(1) The nature of the improvement;
(2) The scope and the extent of the improvement, including the boundaries or other description of the area to be assessed;
(3) The preliminary estimated cost of the improvement;
(4) The fair basis of assessment proposed;
(5) If financing of assessments is provided, the proposed method, including the proposed years to maturity of any bonds to be issued in connection with the improvement; and (6) Such other information as may further explain material aspects of the improvement, assessments, or financing.