Upon final hearing, the board of supervisors shall have a finding of facts entered upon the minutes of the meeting if it appears that:
(a) The petition and notice of hearing have been duly published.
(b) The petition is signed by a sufficient number of persons who possess the required qualifications.
(c) A harbor exists within the county, some portion of which is contained within the exterior boundaries set forth in the petition.
(d) It can be improved and developed as generally described in the petition at a cost not disproportionate to the benefit to be derived from the improvement and development.
(e) The improvement or development has the approval of the harbor commission, if one exists.
(Enacted by Stats. 1937, Ch. 368.)