A. Real property of a city or town, the value of which is more than $1,500,000 but less than $15,000,000, may not be sold unless the governing body of the city or town does both of the following:

1. 1. Holds at least one public hearing to take public comment on the proposed sale after publishing the invitation for bids as prescribed in section 9-402 at least thirty days before the scheduled approval of the purchase agreement. Notice of the hearing shall be provided at least ten days before the hearing and shall include both of the following:

   1. (a) A description of the property proposed for sale and the reasons for the proposed sale.
   2. (b) Information on how to submit to the governing body written and verbal comments on the proposed sale.
2. 2. By a vote of the members of the governing body, adopts a resolution approving the sale of the property.