(1) The boundaries of any district organized under the provisions of this part 5 may be changed in the manner prescribed in this section, but the change of boundaries of the district shall not impair or affect its organization or its rights in or to property, or any of its rights or privileges whatsoever; nor shall it affect, impair, or discharge any contract, obligation, lien, or charge for or upon which it might be liable or chargeable had any such change of boundaries not been made. The owners of property proposed to be included or excluded may file with the board a petition, in writing, praying that such property be included in or excluded from the district. The petition shall describe the property owned by the petitioners and shall be verified. The petition shall be accompanied by a deposit of money sufficient to pay all costs of the inclusion or exclusion proceedings. The secretary of the board shall cause notice of filing of such petition to be given and published, which notice shall state the filing of such petition, names of petitioners, and descriptions of property sought to be included or excluded, and the prayer of said petitioners.

(2) Such notice shall state that all persons having objections to the petition may appear in the office of the board at the time set in said notice, and show cause why the petition should not be granted. The board, at the time and place set in the notice, or at such times to which the hearing may be adjourned, shall proceed to hear the petition and all objections thereto. The failure of any person interested to show cause shall be deemed an assent on his part to the inclusion or exclusion of such property as prayed for in the petition. If the petition is granted, the board shall adopt a resolution to that effect and file a certified copy of same with the county clerk and recorder of the county in which the property is located. Thereupon said property shall be included or excluded from the district.