After preparation of the report required by KRS 91A.240, the city shall hold at least one (1) public hearing on the proposed improvement at which all interested persons shall be heard. Notice of the hearing shall be published pursuant to KRS Chapter 424, and mailed to each affected property owner by certified mail, return receipt requested, and shall include:
(1) The nature of the improvement;
(2) Description of area of the improvement;
(3) Statement that the city proposes to finance the improvement in whole or in part by special assessment of property and the method to be used;
(4) Time and place the report may be examined; and (5) Time and place of the hearing.