7-34-2163. Decision on dissolution petition. The commissioners shall enter upon their minutes an order dissolving such district if, upon the hearing provided for in 7-34-2162, the commissioners find:

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(1)such petition to be sufficient;

(2)that the district is not indebted in any amount beyond funds immediately available to extinguish all of its debts and obligations; and

(3)that there is good reason for the dissolution of such district.