In all cities of the second class A in this Commonwealth the city council of such cities shall adopt an annual budget only in accordance with the procedure set forth in this act.

The city council of said city shall first agree upon a tentative or proposed annual budget and shall thereupon authorize the clerk of said council to advertise, in at least two newspapers of general circulation in such city, a notice of the fact that such proposed or tentative budget shall be enacted finally twenty days after such advertisement. Copies of such proposed budget shall be available for public inspection in the office of the city clerk of such city. The said city council shall then fix a date between ten to fifteen days after such advertisement for a public hearing on said proposed budget, at which hearing all interested taxpayers of such city may appear and state their positions and views relative to such budget. On the date fixed by the advertisement aforesaid the said city council shall proceed with the consideration of the proposed budget ordinance and its adoption in any final form it may desire in accordance with the law governing the passage of such an ordinance.