(a) In not less than 12 months, nor more than 13 months after the recording of the certificates of incorporation, and annually thereafter, a meeting shall be held for the election of directors whose terms expire and also to render a report on the financial condition and activities of the district, including the estimated construction date of all proposed projects to be initiated within the next five years and the board‘s determination as to whether each of these projects is still cost effective and in the current public interest. Notice of the annual meeting shall be given at least 10 days prior to the date thereof to all members in the district.

(b) The number of directors of a district or the date of the annual meeting, or both, may be changed at an annual meeting if notice of the proposed changes is included in the notice for the annual meeting at which such changes are to be considered.

(c) Copies of the minutes of the annual meeting and report on the financial condition and activities of the district shall be furnished to the eligible water right holders of the district and the Kansas water office.