Upon receipt of a petition bearing the requisite number of signatures as required by section 72-205.02, the Board of Educational Lands and Funds shall appoint an examiner who shall hold a meeting in the county seat of the county where such school lands are located to take testimony and to receive evidence as to the rental of all school lands, according to classification, in such county. Such evidence shall cover the rental of other lands similarly situated and any other relevant factors bearing upon the rental of such school lands. Notice of the time and place of such hearing shall be given by publication in a legal newspaper, published in the county where such school lands are situated, once each week for two consecutive weeks beginning at least twenty days prior to the date of the public hearing. In case no legal newspaper is published in the county, then the notice shall be published in a legal newspaper of general circulation in the county. The examiner conducting such hearing shall have the power to administer oaths.