At the public hearing and before bids for construction of the project are invited, the governing body shall adopt a resolution that specifies the following:

1. (1) The educational purpose the building will serve.
2. (2) The estimated cost of construction, including the cost of land.

3. (3) Any other pertinent information, including the estimated impact on the tax rate and the proposed sources of funding.

   [Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5-52-3.]

As added by P.L.1-2005, SEC.10.