(2) The county board shall approve the petition for formation of the district if it finds:
(a) That the owners of all the land within the proposed district have joined in the petition; and
(b) That, in accordance with the criteria prescribed by ORS 199.462, the area could be benefited by formation of the district.
(3) If formation is approved, any election required by ORS 198.810 to 198.825 shall be dispensed with. After the hearing on the petition, if the county board approves the petition, it shall enter an order creating the district. If the district board members generally are elected, the persons nominated by the petition and accepting nomination as members of the board shall constitute the first board of the district. [1971 c.727 §30]