The board of trustees of a school district which operates an energy system as described in section 33-604, Idaho Code, may use, sell or exchange excess thermal hot or chilled water not needed by the school district subject to the following conditions:
(1) Revenues from the sale of energy as described in section 33-604, Idaho Code, shall be used for the benefit of the school district.
(2) Sale of energy as described in section 33-604, Idaho Code, shall be pursuant to a school district written contract approved by resolution of the board of trustees of the school district, which resolution shall be forwarded to the state department of education.