Sec. 6. The academy shall:
(1) establish an advisory committee that represents the education and business communities in Indiana;
(2) determine the standards for admissions and the curricula and courses of study to be offered;
(3) develop curriculum material for distribution and use throughout the public school system;
(4) develop programs to encourage interaction with public school educators;
(5) make curriculum material available to students in public schools throughout Indiana by the use of telecommunications technology; and
(6) establish cooperative arrangements with private and public entities in order to effectively operate the academy.