At the Council meeting at which time the budget is submitted, the Council shall name the date and place of a public hearing on the budget and shall cause to be published in the official newspaper of the city the time and place of the hearing which may not occur earlier than sixteen (16) days after the budget is filed with the City Secretary or as otherwise specified by state law. At this hearing, interested citizens may express their opinions concerning items of expenditures, giving their reasons for wishing to increase or decrease any items of expense.
Any public hearings regarding tax rates involved in the preparation of the budget shall be in accordance with the V.T.C.A. Tax Code, as amended, or as otherwise specified by state law.