(a)Any governing body may upon a petition signed by at
least sixty percent (60%) of the resident owners of property
subject to assessment owning at least sixty percent (60%) of the
assessable land of any proposed district, adopt a resolution at
any regular or special meeting declaring that it finds that the
improvement district is in the public interest. It must be
determined that the formation of the local improvement district
will promote the public convenience, necessity, and welfare. The
resolution must state that the costs and expenses will be levied
and assessed upon the property benefited and request that each
public utility serving the proposed district by overhead
electric or communication facilities shall, within one hundred
twenty (120) days after receipt of the resolution, mak
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(a) Any governing body may upon a petition signed by at
least sixty percent (60%) of the resident owners of property
subject to assessment owning at least sixty percent (60%) of the
assessable land of any proposed district, adopt a resolution at
any regular or special meeting declaring that it finds that the
improvement district is in the public interest. It must be
determined that the formation of the local improvement district
will promote the public convenience, necessity, and welfare. The
resolution must state that the costs and expenses will be levied
and assessed upon the property benefited and request that each
public utility serving the proposed district by overhead
electric or communication facilities shall, within one hundred
twenty (120) days after receipt of the resolution, make a study
of the cost of conversion of its facilities in the area to
underground service. The results of the study shall be provided
to the governing body and made available in its office to all
owners of land within the proposed district. The resolution of
the governing body shall require that the public utilities be
provided with the name and address of the owner of each parcel
or lot within the proposed district, if known, and if not known
the description of the property and other matters as may be
required by the public utility in order to perform the work
involved in the cost study. Each public utility serving the
proposed district by overhead electric or communication
facilities shall, within one hundred twenty (120) days after
receipt of the resolution, make a study of the costs of
conversion of its facilities in the district to underground
service, and shall together provide the governing body and make
available at its office a joint report as to the results of the
study.
(b) At any time prior to the hearing provided for in W.S.
37-13-111 of the statutes, if requested by the governing body or
public utility, a bond shall be filed, with security approved by
the governing body or cash deposit made sufficient to pay all
expenses of the governing body connected with the proceedings
and of the public utilities for actual time and expenses
incurred in regard to the cost and feasibility study in case the
organization of the district is not effected. If at any time
during the organization proceedings the governing body shall be
satisfied that the bond first executed or the amount of cash
deposited is insufficient in amount, it on its own initiative or
at the request of a public utility may require the execution of
an additional bond or the deposit of additional cash within a
time to be fixed, not less than ten (10) days distant, and upon
failure of the petitioners to file or deposit the same, the
petition shall be dismissed.