Sec. 3. At the first public meeting following a private conference with:
(1) the governing body under section 2(f) of this chapter; or
(2) the superintendent under section 2(b) of this chapter, if no conference with the governing body is requested;
the governing body may cancel a contract with a teacher by a majority vote evidenced by a signed statement in the minutes of the board. The decision of the governing body is final.