The county commission, in considering the petition, shall determine whether all the following requirements have been met: (1) That all statements contained within the petition have been found to be true and correct; (2) That the creation of the district is not inconsistent with any applicable comprehensive plan or effective local government plan; (3) That the area of land within the proposed district is of sufficient size, is sufficiently compact, and is sufficiently contiguous to be developable as one functional interrelated community; (4) That the probable beneficial impact of the district outweighs any probable adverse socioeconomic impact of the proposed district.
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