Section 18-1-303 - Assessed valuation and population requirements of proposed and residual counties(a) No new county shall be organized unless it: (i) Contains a population of at least three thousand (3,000) persons; and (ii) Contains taxable property of at least seven million dollars ($7,000,000.00) as shown in the last assessment. (b) In addition to the requirements of subsection (a) of this section the county or counties from which the proposed new county is to be formed shall each contain, after the new county is organized: (i) A population of at least five thousand (5,000) persons; and (ii) Taxable property of at least nine million dollars ($9,000,000.00) as shown in the last assessment. (c) The governor may require further evidence of population and assessed value of the proposed new county and the county or counties from which the proposed new county is to be formed.