The boards of directors created in Sections 73-14-54 through 73-14-69 NMSA 1978 shall consist of five directors, each of whom must own real property within the conservancy district that is subject to conservancy district appraisals, assessments, levies and taxes, and each of whom must actually reside within the conservancy district and also within the county from which the director is elected.
NMS § 73-14-55