(a) The General Assembly finds and declares as follows:

(b) Any school district shall have the power and authority, with the approval of the Department of Education, to enter into contracts or other agreements with the State Public School Building Authority for the financing of a lease or purchase of and the installation, operation and maintenance of any equipment or technology for the purpose of establishing or enhancing educational telecommunications or distance learning applications for a term not exceeding the estimated useful life of the equipment as certified by a professional from the telecommunications/distance learning field, at such rentals or for such purchase price as may be determined by the Authority. There shall be included in the annual budget of the school district an appropriation to meet the amount of such rentals or purchase price.

(c) Any school district shall have the power to sublease or lease equipment and related facilities leased or purchased under this section to governmental or nonprofit organizations subject to reasonable rules and regulations adopted by the board of school directors and further subject to charges as the school board shall consider proper. All proceeds derived from the sublease or lease of the equipment or facility are to be used to defray Authority rental or loan payments or for the purchase of additional telecommunications or distance learning equipment. At the time of the sublease or lease, the school board should request a statement of the governmental or nonprofit purposes for which the sublease or lease is requested and obtain from the sublessee or lessee proper insurance against damage or liability.

(d) Any school district shall have the power and authority to pay for operation and maintenance of any equipment or technology for the purpose of establishing or enhancing educational telecommunications or distance learning applications leased as lessee by it from the authority under the provisions of the first paragraph of this section.