If:

1. (1) the board fails to produce within two (2) years satisfactory evidence of progress in the preparation of the district plan; or

2. (2) federal or state money, or both, contemplated in the petition for the establishment of the district appears to be unavailable;

   it is prima facie evidence that the district should be dissolved.

   [Pre-1995 Recodification Citation: 13-3-3-97(b).]

As added by P.L.1-1995, SEC.26.