1.
The Common Council, upon a written petition or upon its own motion, after a public hearing as hereinafter provided, may provide for the furnishing of fire protection in the outside district or for any described portion or portions thereof.
2.
Such petition shall be signed, acknowledged or proved in the same manner as a deed to be recorded by resident taxpayers owning taxable real property aggregating at least 1/2 of the assessed valuation of all the real property subject to taxation in such outside district, or described portion or portions thereof, as such valuations appear upon the latest completed assessment roll of the City at the time of the filing of such petition.
3.
Whether such proposal for the furnishing of additional fire protection shall have been initiated by petition or by the Common Council, a public hearing on the proposal shall be held in the City. Notice of such hearing shall be published at least once in the official newspapers of the City, the first publication thereof to be not less than 10 days nor more than 20 days before the day designated therein for the hearing. Such notice shall contain a statement of the purpose of such hearing, a description of the portion or portions of the outside district in which it is proposed that such fire protection be furnished and shall specify the time when and the place where the Common Council will meet to consider such proposal and to hear all persons interested in the subject concerning the same.
4.
After such hearing and upon the evidence given thereat, the Common Council, if such proposal was initiated by petition, shall determine whether the petition is signed and acknowledged or proved as required by law. If the Common Council shall determine that the petition is not signed and acknowledged or proved as required by law, it shall deny the petition. The Common Council shall also determine whether it is in the public interest to furnish such additional fire protection. If the Common Council shall determine such matters in the affirmative, it shall adopt an ordinance to provide for the furnishing of such additional fire protection.