Any resolution or petition initiating a proposed park and recreation service area shall set forth the boundaries of the service area with certainty, describe the purpose or purposes for which the service area is to be formed, and contain an estimate of the initial cost of any capital improvements or services to be authorized in the service area.
"Initial costs" as used herein shall include the estimated cost during the first year of operation of:
(1) Land to be acquired or leased for neighborhood park purposes by the service area to establish a park or park facility specified in the resolution or petition;
(2) Capital improvements specified in the objectives or purposes of the service area;
(3) Forming the service area; and
(4) Personnel, maintenance or operation of any park facility within the service area as specified by the resolution or petition.