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Whenever, in the opinion of the Building Inspector, any building within the city shall have been damaged by fire, building collapse, decay, or otherwise, to the extent of 50% of the value thereof, it shall be the duty of the Building Inspector to report the same in writing to the Board of Commissioners. The report shall be in writing and include a description of the building, its location, and the name of the owner, if known. The Finance Officer shall issue a notice to be served upon the owner if within the state, or in case of his or her absence from the state, upon his or her agent if there be one, requiring said owner to appear before the Board of Commissioners and show cause why said building should not be torn down or removed. The owner shall be given at least ten days’ notice of the Board of Commissioners meeting. In case the owner cannot be found within the state, and there is no agent present, then said notice shall be published in the official city newspaper once each week for four successive weekly issues of such newspaper. Upon completion of such publication and due proof thereof, placed on file with the Finance Officer, service of said notice shall be deemed valid and complete.