The participating members of each district to be consolidated shall first authorize such consolidation by majority vote of such members present at a meeting held upon not less than ten days’ written notice to such members stating the purpose of such meeting. A petition addressed to the county board, executed by the chairman and secretary of each district seeking consolidation, shall (1) set forth the names of the districts seeking consolidation; (2) be accompanied by a map showing the boundaries of such districts; (3) state that the consolidation has been approved by a majority vote of the participating members of each district at a meeting held upon notice as required in this section; (4) state that the holders of bonds and other instruments of indebtedness of each of such districts have consented to the proposed consolidation and have agreed in writing to the assumption of such indebtedness by the proposed consolidated district; and (5) state that the consolidated district will provide adequate water service within the area of the consolidated district.