Upon receiving a recommendation from the business improvement board, the governing body may create one or more business improvement districts by adopting a resolution of intent to establish a district one or more business improvement districts. The resolution shall must contain the following information: (1) A description of the boundaries of any proposed district; (2) The date, time, and place of a hearing to be held by the governing body to consider establishment of a district or districts; (3) The proposed public facilities and improvements to be made or maintained within any such proposed district; and (4) The proposed or estimated costs for improvements, facilities and activities within any district, and the method by which the revenue shall be raised. If a special assessment is proposed, the resolution also shall must state the proposed method of assessment; and (5) That the method of raising revenue shall be fair and equitable. The notice of intent shall recite that the method of raising revenue shall be fair and equitable. In the use of a general occupation tax, the tax shall must be based primarily on the square footage of the owner's and user's place of business, or based on rooms rented by any lodging establishment to transient guests as defined in § 10-45-7. If the occupational occupation tax is based on rooms rented by a lodging establishment, the tax shall must be imposed on the transient guest, and such the tax may either be set at an amount not exceed two exceeding four dollars per occupied room per night, or at a rate not exceeding four percent of the rented room charge. However, If a lodging establishment 26 does not charge a fee or rent for a room, no occupational occupation tax may be imposed on any the transient guest who has been offered a room by a lodging establishment on a complimentary basis and no fee or rent was charged for such room. In the use of a special assessment, the assessment shall must be based upon the special benefit to the property within the business improvement district. 5