Subject to § 4–413 of this subtitle, an annexation petition shall be signed by: at least 25% of the registered voters who are residents in the area to be annexed; and the owners of at least 25% of the assessed valuation of the real property in the area to be annexed. After an annexation petition is presented to the legislative body of the municipality, the presiding officer of the legislative body shall verify: the signatures on the petition; and that the petition meets the requirements of subsection (a) of this section. After verifying compliance with the requirements of this section, the presiding officer of the legislative body promptly shall cause a resolution proposing the change of boundaries as requested by the petition to be introduced in the legislative body. The annexation resolution shall conform to the form and content requirements of this subtitle.