(1) Before issuing bonds authorized under this chapter, a local political subdivision shall:
(a) in accordance with Subsection (2), provide public notice of the local political subdivision's intent to issue bonds; and
(b) hold a public hearing:
(i) if an election is required under this chapter:
(A) no sooner than 30 days before the day on which the notice of election is published under Section 11-14-202; and
(B) no later than five business days before the day on which the notice of election is published under Section 11-14-202; and
(ii) to receive input from the public with respect to:
(A) the issuance of the bonds; and
(B) the potential economic impact that the improvement, facility, or property for which the bonds pay all or part of the cost will have on the private sector.
(2) A local political subdivision shall:
(a) publish the notice required by Subsection (1)(a) for the local political subdivision, as a class A notice under Section 63G-30-102, for no less than 14 days before the day of the public hearing required by Subsection (1)(b); and
(b) ensure that the notice:
(i) identifies:
(A) the purpose for the issuance of the bonds;
(B) the maximum principal amount of the bonds to be issued;
(C) the taxes, if any, proposed to be pledged for repayment of the bonds; and
(D) the time, place, and location of the public hearing; and
(ii) informs the public that the public hearing will be held for the purposes described in Subsection (1)(b)(ii).