The Texas Education Agency and the Texas School for the Blind and Visually Impaired shall develop, agree to, and by commissioner rule adopt a memorandum of understanding to establish:
(1) the method for developing and reevaluating a set of indicators of the quality of learning at the Texas School for the Blind and Visually Impaired;
(2) the process for the agency to conduct and report on an annual evaluation of the school’s performance on the indicators;
(3) the requirements for the school’s board to publish, discuss, and disseminate an annual report describing the educational performance of the school;
(4) the process for the agency to:
(A) assign an accreditation status to the school;
(B) reevaluate the status on an annual basis; and
(C) if necessary, conduct monitoring reviews; and
(5) the type of information the school shall be required to provide through the Public Education Information Management System (PEIMS).