A. The first election for conservancy districts existing on July 1, 1961 and eligible under the provisions of Section 74-14-74 NMSA 1978 to have an elected board of directors shall be held on the first Tuesday in October 1961.
B. Subsequent elections shall be held every two years following the year 1961 and shall be held on the first Tuesday of October.
C. Conservancy districts formed after July 1, 1961 shall hold their first election as provided in Section 73-14-74 NMSA 1978.