(a) Any local government may enter into a privatization contract with a private owner or operator to accomplish the transfer of any local government-owned wastewater project or solid waste disposal project or the designing, construction, operation, maintenance, or financing of cost, or any combination thereof, of a wastewater project or solid waste disposal project, pursuant to the provisions of this subchapter.

(b)

(1) A local government considering entering into a privatization contract pertaining to its municipally owned wastewater project or solid waste disposal project, or any portion thereof, shall publish notice of its intention to adopt an ordinance to accomplish the privatization.

(2) The notice shall:

(A) Set forth a brief summary of the privatization contract provisions; and

(B) Set a time and place for a public hearing to be conducted by the chief executive.

(3) The notice shall be published in a newspaper having general circulation within the county in which a substantial portion of the project is located by one (1) publication each week for a period of two (2) weeks. The first publication shall be not less than fourteen (14) days prior to the adoption of the ordinance approving the execution of the privatization contract.

(c) The hearing may be held in conjunction with any hearing on the question of issuing bonds to finance the cost of the privatization project, on the question of adoption of the service agreement, or any other question.

(d) A copy of the proposed privatization contract shall be filed as a public record with the clerk of the local government not less than two (2) weeks prior to the adoption of the ordinance.