Indiana Code Title 36. Local Government § 36-9-29-3

(1) it is necessary for the general welfare, safety, and security of the city and its inhabitants to carry out any project for the protection of the city and its inhabitants from floods;

(2) the project cannot be carried out in the best or most economical manner without beneficially or injuriously affecting land or other property located outside the corporate boundaries of the city;  and

(3) the required flood control works can best be provided for and maintained by the establishment of a special taxing district for that purpose;

(1) The necessity for providing flood protection for all or part of the city and for all or part of the contiguous territory within four (4) miles outside the corporate boundaries of the city, including all or part of any town within the four (4) mile limit.  The necessity must be based upon floods that have occurred in the city and the contiguous territory in the preceding ten (10) years.

(2) The general character of the flood control works that the works board considers necessary to afford proper protection, and the general location and route of the levees, dikes, retaining walls, and other structures that the board considers necessary as part of those works.

(3) A general description of the boundaries of the territory that will be beneficially affected by the construction of the proposed works.

(4) A general estimate of the cost of the property that must be acquired for the construction of the proposed works, including the estimated amounts of damages to property injuriously affected but not acquired.

(5) A general estimate of the cost of construction and installation of the proposed works, based on the available information.