(A) Each project shall be initially reviewed by the City Council prior to presentation of the inducement resolution or ordinance to the City Council for first reading. The review may be conducted at a regular meeting of the City Council and a representative of the applicant may be present at the meeting to explain the project. The City Council shall, if requested by the applicant, after its initial review and at its next regular meeting, consider the project and, by roll call vote, pass or reject the proposed inducement resolution or ordinance, at a first reading.
(B) Inducement resolutions or ordinances shall receive two readings by the City Council. Not less than seven days prior to the second reading of an inducement resolution or ordinance the applicant shall advertise, in a newspaper which qualifies under KRS Chapter 424 for legal publication by the city, notice of the City Council meeting at which the inducement resolution or ordinance will be considered for second reading. The notice shall include:
(1) A statement that the City Council will consider at the meeting, authorization for industrial revenue bonds to finance the project;
(2) The date, time and place of the meeting;
(3) The name of the applicant;
(4) The type and location of the project; and
(5) A statement that members of the public will have an opportunity to comment on the project and the bond issue at the meeting.
('88 Code, § 33.28) (Ord. 1983-11, passed 9-1-83)