(a) After reviewing the application and upon reasonable notice to the applicant, the State Board of Finance shall hold a public hearing on the application.
(b)
(1) The board shall give notice of the time, place, and purpose of the public hearing by publication one (1) time in a newspaper of general circulation within the boundaries of the applicant, the publication to be not less than ten (10) calendar days prior to the hearing.
(2) The notice shall describe generally the eligible facility for which state assistance has been requested and shall contain a brief description of the procedural steps to be taken in connection with the application and the financing of the eligible facility.
(c) At the public hearing, representatives of the applicant and any other interested persons may appear and present evidence and argument in support of or in opposition to the application, and the board may present additional evidence.
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