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(A) Before holding any election required by this article, the assembly shall have a notice of election published once a week for three consecutive weeks. The first publication shall be at least 20 days prior to the date of election. For elections ratifying the issuance of general obligation bonds of the municipality or service area obligations additionally secured by a pledge of the full faith and credit of the municipality, the notice shall contain:

(1) the amount of the bonds, purposes of issuance, length of time for the bonds to mature, and the maximum interest rate the bonds will bear;

(2) the amount of the estimated annual debt service on the proposed bonds;

(3) the amount of the current total general obligation debt;

(4) the amount of the current year’s debt service on the outstanding general obligation bonds; and

(5) the current total assessed valuation within the municipality.

(B) For bonds secured by a pledge of taxes to be levied in a service area, the notice shall contain the same information listed above, but in regard to the service area.