(a) After the ordinance shall have been adopted, it shall be published one (1) time in a newspaper published in the municipality; or if there is no newspaper so published, then the ordinance shall be posted in at least three (3) public places therein, with a notice to all persons concerned stating that:
(1) The ordinance has been adopted;
(2) The municipality contemplates the issuance of the bonds described in this ordinance; and
(3) Any person interested may appear before the governing body, upon a certain date which shall not be less than ten (10) days subsequent to the publication or posting of the ordinance and notice, and present protests.
(b) At the hearing, all objections and suggestions shall be heard, and the legislative body shall take such action as it shall deem proper in the premises.