Upon exclusion of any lands, the board of directors may make such rearrangement or reapportionment of divisions within the district as the board deems advisable. No exclusion of lands may impair or affect the district organization or its property or rights therein, or any other rights or privileges, nor may it affect, impair, or discharge any contract obligation, lien, or charge for or upon which it was or might become liable or chargeable had the exclusion of land not been made. Lands excluded by an order of the board are liable for district contracts, debts, or obligations thereafter created. No omission or informality in the proceedings for exclusion of lands may invalidate such proceedings if the substantial rights of the parties affected were recognized and the proceedings were fairly conducted. The board of directors may make any resolutions and bylaws necessary in the proceedings.
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