A chartering authority shall: A. evaluate charter applications; B. actively pursue the utilization of charter schools to satisfy identified education needs and promote a diversity of educational choices; C. approve charter applications that meet the requirements of the Charter Schools Act; D. decline to approve charter applications that fail to meet the requirements of the Charter Schools Act or are otherwise inadequate; E. negotiate and execute, in good faith, charter contracts that meet the requirements of the Charter Schools Act with each approved charter school; F. monitor, in accordance with the requirements of the Charter Schools Act and the terms of the charter contract, the performance and legal compliance of charter schools under their authority; G. determine whether a charter school merits suspension, revocation or nonrenewal; and H. develop and maintain chartering policies and practices consistent with nationally recognized principles and standards for quality charter authorizing in all major areas of authorizing, including: (1) organizational capacity and infrastructure; (2) evaluating charter applications; (3) performance contracting; (4) charter school oversight and evaluation; and (5) charter school suspension, revocation and renewal processes. History: Laws 2011, ch. 14, § 8.