(1) The requirement of Arkansas Constitution, Amendment 40, for publication of a public school district's budget shall be discharged by the board of directors of each school district by publication of the school district's budget one (1) time in a newspaper that is published in or has a bona fide circulation in the county or counties in which the school district is administered.
(2) The publication shall be made not less than sixty (60) days before the school election at which the annual ad valorem property tax for the school district is decided by the electors.