(A) The Village Council shall provide for a public hearing to be held on the budget proposal with notice of such hearing to be given by publication in a legal newspaper of general circulation within such unit at least ten (10) days prior to such hearing.
(B) Such notice shall include the time and place of such hearing and shall state the place where a copy of the proposed budget is available for public inspection.
(C) In addition, the notice shall state the rate of taxation necessary to defray the expenditures and meet the liabilities of the general fund for the ensuing fiscal year.
(D) The failure to give the aforesaid notice shall not invalidate the adoption of any budget of the Village.