The provisions of Sections 73-14-70 through 73-14-88 N.M. Stat. Ann. apply only to conservancy districts in existence and having between fifteen thousand and thirty thousand acres within their exterior boundaries on July 1, 1961 and to all conservancy districts formed after that date. The provisions of these sections do not apply to any conservancy district organized to conserve, protect or develop the waters of underground streams, channels, artesian basins, reservoirs or lakes having reasonably ascertainable boundaries where those waters have been placed in beneficial use.