(a) On or after January 1, 2022, the owner or owners of a majority of the assessed value of real property in the district may submit a petition to the governing body of the city requesting that the governing body appoint five persons as initial directors from a list of persons in the district.
(b) A petition must name more than five qualified persons.

(c) The governing body shall appoint as initial directors five persons listed in the petition who are qualified to serve as directors.
(d) The initial directors shall determine by lot which three positions expire June 1 following the second anniversary of the date of the appointment and which two positions expire June 1 following the fourth anniversary of the date of the appointment.
(e) This section expires September 1, 2027.

For expiration of this section, see Subsection (e).
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