1. All persons failing to file written objections within 50 days from the date of the filing of the petition for exclusion shall be conclusively deemed to have consented to such exclusion. 2. If 25 percent of the holders of bonds or contracts or certificates of indebtedness constituting liens against the land sought to be excluded file objections to such exclusion within the 50-day period the petition for exclusion shall be denied; otherwise, the board at its sole discretion, but then only upon the payment of all bonded indebtedness of the district chargeable to the land sought to be excluded, may by resolution exclude the land from the district, and the land shall thereafter be denied all benefits under the district.
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