A. Before constructing, acquiring or financing any water related facilities, the district board shall cause a report to be prepared on the feasibility and benefits of the project. The study shall be prepared by engineers and other qualified persons and shall include at least the following:

1. 1. A description of the water related facilities to be constructed or acquired and all other information useful to understanding the project.
2. 2. A map showing the general location of the project.
3. 3. An estimate of the cost to construct, acquire, operate and maintain the project.
4. 4. An estimated schedule for completion of the project.
5. 5. A map or description of the area to be benefited by the project.
6. 6. A plan for financing the project, including a preliminary analysis of how capital, operation and maintenance costs will affect landowners and water rate payers.