The board shall call and hold an election on the first Saturday in May 2002 for the election of directors to fill Positions One, Two, Four, and Five. Before the election, the board shall determine which director, of the directors serving in Positions Four and Five, shall serve a term expiring in May 2004. The board shall call and hold an election on the first Saturday in May 2004 to elect a director to Position Three and elect a director to Position Four or Five, as determined by the board.