(a) Publication of a proposed new constitution by a constitutional convention called by the people of the state at a general election shall be made by one (1) of the following methods, whichever is less costly to the state:
(1) One (1) time at the rate of two and one-half cents (2½¢) per word in each legal newspaper in the state by insertion of preprinted copies of the proposed new constitution furnished by the state to each legal newspaper without charge. The copies shall be in tabloid form suitable for insertion in legal newspapers and shall be printed in not less than eight-point type; or
(2) One (1) time without preprint at the rate of five cents (5¢) per word in every legal newspaper in the state.
(b) Publication of the proposed constitution shall take place not less than sixty (60) days prior to the election at which it shall be voted upon by the people of the state.