403.4  Resolution of necessity.
  No municipality shall exercise the authority herein conferred upon municipalities by this chapter until after its local governing body shall have adopted a resolution finding that:
  1.  One or more slum, blighted or economic development areas exist in the municipality.
  2.  The rehabilitation, conservation, redevelopment, development, or a combination thereof, of the area is necessary in the interest of the public health, safety, or welfare of the residents of the municipality.
[C58, 62, 66, 71, 73, 75, 77, 79, 81, §403.4]
85 Acts, ch 66, §2