The owner or owners of any tract or tracts of land situated within the boundaries of any drainage district that embraces land in more than one county of the state and was organized under this chapter may, in event the United States government, any agency or instrumentality thereof, or any corporation organized under an Act of the Congress of the United States for the purpose of engaging in any reforestation activity accepts a proposal of said owner or owners for the sale thereof, file a petition in the chancery court of the county in which the drainage district was organized, describing therein the tract or tracts of land in said district on which the proposal of said owner or owners for sale as aforesaid has been accepted as said tract or tracts are described in the assessment roll of the district, stating the total amount of assessments of benefits against each said tract and also the total amount thereof remaining unpaid at the time of the filing of such petition, and praying an acquittance of said tract or tracts from all outstanding indebtedness and assessments of benefits of said district whatever and a release thereof from the boundaries of said district on payment of the total amount of assessment of benefits of said district against said tract or tracts remaining unpaid on the filing of such petition. Thereupon the clerk of such chancery court shall issue notices, addressed to all the landowners of said district and to all holders of the outstanding indebtedness of said district, of a hearing on such petition at the next succeeding term of said court or in vacation at a time and place to be fixed by the chancellor, which notice shall be published in a weekly newspaper having a bona fide circulation in each county, any part of which is included within the boundaries of such district, for two successive issues.