[District declared organized; boundaries; status; principal

place of business; jurisdiction of court; costs where petition denied.] Upon the hearing of the petition, as provided for herein, if it shall appear that a petition, or petitions, for the organization of such district has been signed and presented as hereinbefore provided, and that the allegations of the petition, or petitions, are true and that no protesting petition, or petitions, have been filed, or, if filed have 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, but said decree shall not be final as to the boundaries of said district, or as to the lands to be embraced therein, until the approval of the report of the commissioners, as hereinafter provided, at which time, a final decree as to the property to be embraced in the district shall be entered, and no appeal therefrom as to any particular tracts or parcels of property shall, in any way, prevent the district from functioning, nor prevent the levy of any taxes against such property in question pending the appeal therefrom. Upon declaring the district organized, the same 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 and to do and perform all acts herein expressly authorized, and all other acts necessary and proper for carrying out to all intents and purposes the objects for which the district was created, and for exercising the powers with which it is invested. In such decree, the court shall designate the place where the office, or principal place of business, shall be located, which shall be within the corporate limits of the district, if practical, 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. The district court entering the decree shall retain jurisdiction of the conservancy district so organized, and all court proceedings pertaining to the district, as herein provided, shall be filed in the original cause. Any district judge in whose court said original proceeding is had shall not be disqualified on account of owning property within the boundaries of the district. If the court finds against the prayer of the 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.