Public hearing required -- Notice

(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).