(a) The organizing committee shall present to the county commissioners or county council a proposed municipal charter:
(1) within 45 days after receiving the comments submitted to the organizing committee under § 4–205(c) of this subtitle; or
(2) if the county commissioners or county council has not submitted comments, within 90 days after the report is submitted by the organizing committee under § 4–205(a)(1)(iii) of this subtitle.
(b) The organizing committee shall submit statements with the proposed municipal charter describing:
(1) the likely fiscal effect of the proposed incorporation on residents of the proposed municipality, residents in the vicinity of the proposed municipality, and the county;
(2) the services that the proposed municipality is expected to provide; and
(3) the impact that the proposed incorporation is expected to have on property tax rates.