When one-fourth (¼) or more of the owners of real property within a proposed drainage district shall file a petition in the chancery court of the county to establish a drainage district to embrace their property, describing generally the region which it is intended shall be embraced within the district, it shall be the duty of the chancery clerk to immediately publish a notice in a newspaper having a circulation in the proposed district for two (2) successive insertions, directed to the owners of the land to be embraced in the proposed district, giving notice of the said petition and designating a date, not less than ten (10) days after the last publication of notice, at which a hearing may be had on said petition. Upon the date designated in the notice, or upon a subsequent day to which the matter may be continued, the chancery court or the chancellor in vacation shall hear all objections, if any are offered, to the organization of said district, and unless at the hearing a majority of the landowners owning half or more of the land proposed to be included in the proposed district shall object to the organization, further proceedings shall be had as hereinafter provided; but if such a majority shall protest, the court or chancellor shall not proceed with the organization of said district. If in either event it be determined by the court or chancellor to proceed with the organization of the proposed district, the court or chancellor shall enter an order appointing as temporary commissioners three (3) landowners of the territory proposed to be drained, who shall take the oath required by Section 268 of Article 14 of the Constitution of the state and give bond in the penalty of not less than One Thousand Dollars ($1,000.00) payable to the county, and whose term of office shall expire upon the permanent organization of the district. Said temporary commissioners shall immediately organize and select a competent engineer, who shall give bond payable to the county in a sum of not less than One Thousand Dollars ($1,000.00), to be fixed by said commissioners for the faithful discharge of his duties, and who shall be liable upon such bond for negligence or incompetency causing loss to the county or district.

The engineer shall proceed forthwith to make a survey and ascertain the region which will be benefited by the proposed improvement, giving a general idea of its character and the cost of drainage, and making such suggestions as to the size of the drainage ditches and the location as he may deem advisable.

All expenses incident to the survey, legal expenses, and the cost of publication shall be paid by the county as the work progresses upon a proper showing; but all expenses incurred by the county shall be paid out of the proceeds of the first assessment levied under this chapter.

Said temporary commissioners may, by and with the consent of the court or chancellor, for the purpose of prosecuting the preliminary work, paying the expenses incident to the survey, attorney’s fees, legal expenses, costs of publication, and other necessary expenses, borrow money at a rate of interest not exceeding that allowed in Section 75-17-105, and issue negotiable notes, certificates or other evidences of indebtedness therefor signed by the said three (3) temporary commissioners and payable either within or without the state to the person or persons from whom such money is borrowed, or bearer, or bearer simply, as said commissioners may elect. The said temporary commissioners may also issue to the engineer, or other persons who do the said preliminary work, negotiable evidences of debt signed by the three (3) said temporary commissioners, bearing interest at a rate not to exceed that allowed in Section 75-17-105. None of the said evidences of indebtedness so issued shall run for more than two (2) years, they shall be non-taxable, and said commissioners may pledge all assessments on the land proposed to be drained for the payment of said evidences of indebtedness. Said evidences of indebtedness may be paid off either out of any general fund of the drainage district if organized, or out of the proceeds of the first assessments levied under this chapter; but in the event the said district is not organized after said indebtedness has been incurred, then the board of supervisors may levy an acreage or an ad valorem tax against the lands embraced in said proposed drainage district in the manner hereinafter provided.

Notwithstanding the foregoing provisions of this section, bonds referred to hereinabove may be issued pursuant to the supplemental powers and authorizations conferred by the provisions of the Registered Bond Act, being Sections 31-21-1 through 31-21-7.