(1) There hereby is created a water control district territorially coterminous with each water control district existing on June 16, 1969, if such district was at that time a valid district but for the fact that its electorate was restricted to property owners. In determining the boundaries of districts created by this subsection, full effect shall be given to annexations, withdrawals and consolidations effected by districts prior to June 16, 1969, under this chapter or other statutes authorizing or purporting to authorize such action.
(2) Water control districts territorially coterminous with the districts created by subsection (1) of this section hereby are abolished.
(3) Water control districts created by this section shall be governed by this chapter.