(1) To establish a residential clean energy program, the governing body of a municipality shall take the following actions in the following order:

    (a) Adopt a resolution of intent that includes all of the following:

    (i) A finding that the financing of energy projects is a valid public purpose.

    (ii) A statement of intent to provide funds for financing energy projects, which may be repaid by charges on the electric utility bills for the properties benefited, with the agreement of the record owners.

    (iii) A description of the proposed arrangements for financing the program.

    (iv) The types of energy projects that may be financed.

    (v) Reference to a report on the proposed program as described in section 11(1) and the internet address and office location where the report is available under section 11(2).

    (vi) The time and place for a public hearing on the proposed program.

    (b) Hold a public hearing on the proposed program, including the report described under section 11.

    (c) Adopt a resolution or ordinance establishing the program and setting forth its terms and conditions, including all of the following:

    (i) Matters required by section 11 to be included in the report. For this purpose, the resolution may incorporate the report or an amended version thereof by reference.

    (ii) If the program is established by a resolution, a description of which aspects of the program may be amended without a new public hearing and which aspects may be amended only after a new public hearing is held.

    (2) A residential clean energy program established by resolution or ordinance may be amended by resolution of the governing body or ordinance, respectively. Before the governing body adopts an amendment by resolution, the governing body shall conduct a public hearing if required pursuant to subsection (1)(c)(ii).