(A) Contractual agreements for provision of career-technical education programs shall include all the following terms:
(1) All districts that are parties to the agreement must agree upon the state board of education-approved plan for providing career-technical education programs.
(2) The method of assessing student need used to determine the number of students for which each district will provide funding for career-technical programs must be set out in the agreement. The required scope for the education programs must be set out in the agreement. The required scope of the education programs will be a minimum of five percent of the eleventh and twelfth grade enrollment from the previous year.
(3) The educating district's documented cost per student and the transfer of state and local funds must be identified in the agreement. The amount due shall be at least the cost per student, less the amount of state reimbursement per student, times no less than the number of students as stated in the agreement.
(4) Each district's responsibility regarding facilities and equipment value and any repayment of state or federal funding related to construction and/or purchase of equipment will be stated in the agreement.
(5) Agreements will be in effect for a term of at least five years and will be renewable on the basis of at least five-year periods. In cases where a board of education offering the required scope of the career-technical offerings has obligated funds for the construction and for equipping career-technical facilities, the contract between the boards of education must either cover a period of years necessary to amortize the obligation, or the contract must specify the parties' responsibility for repayment if the contract is not renewed at the expiration of a contract period.
(6) Any district not renewing the contractual agreement at the end of a contract term must provide written notice of the intention to not renew the agreement to all other parties to the agreement at least eighteen months prior to the expiration of the contract term in effect at the time.
(7) Arrangements for changes in contractual relationships at the expiration of each contract period or modifications of the contractual relationships during the life on the contract must have approval of all participating districts and notice must be provided to the state department of education.