A. The governing board of a school district may establish a permanent career and technical education projects fund in an amount of not more than $100,000. The fund consists of proceeds from the sale of items produced or services provided by career and technical education programs. Monies in the fund may be used for any of the following purposes:

1. 1. Purchasing materials for use by career and technical education pupils in an instructional program that produces a product or provides a service that may be sold by the school district.
2. 2. Purchasing equipment or services for use by career and technical education pupils in an instructional program that produces a product or provides a service that may be sold by the school district.
3. 3. Paying expenses directly related to planning and designing career and technical education program products or services.
4. 4. Paying expenses related to an approved department of education career and technical student organization, including costs associated with events, conferences or competitions.