The Board of Trustees may from time to time on its own motion or on petition amend, supplement or repeal the regulations, restrictions and boundaries herein established, but no such amendment, supplement or repeal shall become effective until after a public hearing in relation thereto shall have been held and all parties in interest and citizens shall have had an opportunity to be heard. Whenever the owners of 50% or more of the frontage in any proposed new district shall present to the Board of Trustees a petition duly signed and acknowledged requesting an amendment of this chapter, it shall be the duty of the Board of Trustees to hold a public hearing thereon and cause notice to be given as required.

An amendment of this chapter which will modify or change existing zoning restrictions for any parcel of property where the lot lines of such property lie within 500 feet of the boundary line of the Village and any adjacent municipality shall require that the Clerk of the Village shall notify the Clerk of the adjacent municipality lying within this prescribed area at least 10 days before the date of the public hearing concerning the nature of any proposed amendment to this chapter. Any agency of the adjacent municipality so notified may submit an advisory opinion on said amendment prior to the date of the public hearing.

At least 10 days' notice of the time and place of such hearing shall be published in a newspaper of general circulation in the Village. Such notice shall state the general nature of the proposed amendment.