The governing body of each of the municipalities involved in the proposed absorption shall adopt a resolution which sets forth:
(1) The name of each municipality which is to be absorbed;
(2) The name of the municipality which will absorb the other municipality;
(3) A statement that each municipality being absorbed accepts and will be governed by each and every provision and ordinance of the municipality which is absorbing them;
(4) The proposed effective date of the merger;
(5) A listing of each separate bonded indebtedness of each municipality which will be absorbed and a statement whether the tax necessary to retire it is to be levied locally or generally.