1. The board shall, on the petition of twenty-five percent of the residents of a proposed rural improvement zone, if the assessed valuation of the property owned by the petitioners represents at least twenty-five percent of the total assessed value of the proposed zone, hold a public hearing concerning the establishment of a proposed zone. The petition shall include a statement containing the following information:
a. The need for the proposed zone.
b. A description of the boundaries of the proposed zone.
c. The approximate number of families in the proposed zone.
2. The board may require the petitioners to post a bond conditioned upon the payment of all costs and expenses incurred in the proceedings if the zone is not established.
97 Acts, ch 152, §2
Referred to in § 357H.1, 357H.3
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