(a) When the Congress of the United States has enacted a law adopting and authorizing a project for the improvement of any of the rivers, tributaries, or streams of or bordering on this state, ten (10) or more owners of real property within the area embraced within the adopted and authorized project shall petition the circuit court to establish an improvement district to embrace the property within the area, describing generally the region which is intended to be embraced within the district. A concise statement of the authorized and adopted project, a copy of the Act of Congress, together with the plans and estimated cost to be borne by the district as made by the United States Army Corps of Engineers or other agency of the federal government, shall be attached and made a part of the petition. A concise statement showing the necessity of forming and creating the proposed improvement district, and a concise statement as to the benefits to be received by the proposed adopted and authorized project shall be included.
(b) Upon the filing of the petition, it shall be presented to the judge of the circuit court, either in term or vacation, and the court shall make an order directing the clerk of the circuit court in which the petition is filed to give notice by publication for two (2) weeks in some newspaper or newspapers published and having a general circulation in each of the counties embraced within the proposed boundaries of the district, calling upon all persons owning property therein to appear before the court on some day to be fixed by the court to show cause in favor of or against the establishment of the district.
(c) At the time named in the notice, the circuit court shall meet and hear all property owners within the proposed district who wish to appear and advocate or resist the establishment of the district. If the court finds and deems it to be the best interest of the owners of real property within the district that the proposed district shall become an improvement district, under the terms of this subchapter, it shall make an order upon its records establishing the proposed district as an improvement district, subject to all of the terms and provisions of this subchapter.