(a) Within 90 days of the approval of a charter application, the governing board and the authorizer shall negotiate and enter into a charter contract, which may incorporate and be consistent with the approved application. Alternatively, the parties may agree to also have part or all of the charter application be a part of the charter contract as long as it contains all of the requirements below.
(b) The charter contract shall address, in detail, the following items:
(1) The term of the contract: Provided, That the contract term shall be no longer than five years;