Section 73-14-15 - Hearing; declaration of organization; nature of district; contents of decreeA. In respect to conservancy districts involving surface waters, upon the hearing of the petitions as provided in Section 73-14-8 NMSA 1978, if it shall appear that a petition for the organization of a district has been signed and presented, as hereinbefore provided, and that the allegations of the petition are true, that the lands described in the petition substantially conform to the requirements of Subsection K of Section 73-14-5 NMSA 1978, and that no protesting petition has been filed, or if filed has been dismissed, the court shall, by order, adjudicate all questions of jurisdiction, declare the district organized and give it a corporate name by which in all proceedings it shall thereafter be known. B. Thereupon the district shall be a political subdivision of the state of New Mexico and a body corporate with all the powers of a public or municipal corporation; shall have power to sue and be sued, to incur debts, liabilities and obligations, to exercise the right of eminent domain and of taxation and assessment as herein provided, to issue negotiable bonds and to do and perform all acts herein expressly authorized, and all acts necessary and proper for carrying out the purposes for which the district was created and for exercising the powers with which it is vested. C. In such decree, the court shall designate the place where the office or principal place of business of the district shall be located, which shall be within the corporate limits of the district, if practicable, and which may be changed by order of the court from time to time. The regular meetings of the board of directors shall be held at such office or place of business, but for cause may be adjourned to any other convenient place. The official records and files of the district shall be kept at the office so established. D. If the court finds against the prayer of petition, it shall dismiss said proceedings and adjudge the costs against the signers of the petition in such proportions as it shall deem just and equitable. 1953 Comp., § 75-28-9.2, enacted by Laws 1971, ch. 201, § 2.