The Board of Commissioners shall call a hearing of the residents of the member municipalities on or before January 31 in each year for the purpose of presenting the proposed budget and inviting discussion thereon. The hearing shall be held within the boundaries of one of the member municipalities of the District and shall be warned by a notice published in a newspaper of general circulation in each member municipality at least 15 days prior to the hearing. The notice shall contain a copy of the proposed budget, and the legislative body of each member municipality shall be sent a copy of the notice, with attached proposed budget at least 15 days prior to such hearing.