(a) Whenever any number of natural persons, not less than three (3), each of whom shall be a duly qualified elector of and taxpayer in the municipality, shall file with the governing body thereof an application in writing seeking permission to apply for the incorporation of a health, educational and housing facility corporation of such municipality, the governing body shall proceed to consider such application.(b) If the governing body shall, by appropriate resolution duly adopted, find and determine that it is wise, expedient, necessary or advisable that the corporation be formed and shall authorize the persons making such application to proceed to form such corporation and shall approve the form of certificate of incorporation proposed to be used in organizing the corporation, then the persons making such application shall execute, acknowledge and file a certificate of incorporation for the corporation as hereinafter provided.(c) No corporation may be formed unless such application shall have first been filed with the governing body of the municipality and the governing body shall have adopted a resolution as provided in this section.Acts 1969, ch. 333, § 3; 1982, ch.

plication shall have first been filed with the governing body of the municipality and the governing body shall have adopted a resolution as provided in this section.Acts 1969, ch. 333, § 3; 1982, ch. 947, § 4; T.C.A., §§ 48-1903, 48-3-303.