A. In any district having an irrigable area of twenty-five thousand acres or less, a "qualified elector" is any person who:
(1) owns one-half acre or more of agricultural land within the district or has evidence of title to such lands or is a purchaser of such lands under contract for the purchase of such lands from the state; or
(2) is a resident entryman of public lands within the district; and
(3) meets all other requirements of Section 73-10-7 NMSA 1978.
B. Any person who meets the qualifications of Section [Paragraph] A(1) is a resident freeholder.