At the time of the hearing provided for in §69-5-922, the county legislative body shall hear and dispose of all objections in a summary manner and its disposition of the objections shall be final and conclusive on all parties. In the event a remonstrance or remonstrances against the issuance of refunding bonds be filed with the county legislative body on or prior to the date set for such hearing, signed by sixty percent (60%) or more of the landowners owning sixty percent (60%) or more of the aggregate acreage of land within the district, then the county legislative body shall enter an order denying and dismissing the petition of the board of directors for the issuance of refunding bonds.