A. The district shall keep the following records that shall be open to public inspection:

1. 1. Minutes of all meetings of the district board.
2. 2. All resolutions.
3. 3. Accounts showing all monies received and disbursed.
4. 4. The annual budget.
5. 5. All other records required to be maintained by law.

B. If the resolution ordering formation of the district provides that the district will be governed by a district board that consists of five directors who are appointed by the governing body, all of the following apply:

1. 1. Each appointed director shall serve for a term of six years, except that two directors initially appointed by the governing body in the resolution shall serve for a term of four years.
2. 2. The resolution shall state which directors shall serve four-year terms and which shall serve six-year terms.
3. 3. On the expiration of the term of an appointed director, the governing body shall appoint a person to fill the position.
4. 4. If a vacancy occurs on the district board because of death, resignation or inability of the director to discharge the duties of director, the vacancy shall be filled by appointment made by the governing body.

C. If the resolution ordering formation of the district provides that the district will be governed by a district board that consists of the members of the governing body, ex officio, with two additional members who are initially designated by the owner who owns the largest amount of privately owned acreage in the district and who are appointed by the governing body, all of the following apply:

1. 1. Each of the additional appointed district board members shall serve for a term of six years.
2. 2. On the expiration of the term of an additional appointed district board member, the governing body shall appoint a person according to the process for designating a district board member for a term of office as prescribed in the application for formation of the district submitted pursuant to section 48-702, or if no process is prescribed in the application for formation, the owner who owns the largest amount of privately owned acreage in the district at the time the term expires shall designate a person to fill the position and the governing body shall appoint that person to fill the position.
3. 3. If a vacancy occurs on a district board because of death, resignation or inability of either of the additional appointed members to discharge the duties of an additional district board member, the governing body shall appoint a person according to the process for designating a person to fill a vacancy on the district board as prescribed in the application for formation of the district submitted pursuant to section 48-702, or if no process for filling a vacancy is prescribed in the application for formation, the vacancy shall be filled by a person who is designated by the owner who owns the largest amount of privately owned acreage in the district at the time of the vacancy and who is appointed by the governing body to fill the vacancy.