In order to provide for an orderly transition following its appointment, the state board of education as it will exist on and after July 1, 1984, shall meet with and receive the cooperation of the state superintendent of public education and the state department of education on any matters relating to the public school education system in the state until assuming its duties and authority on July 1, 1984. During this transition period, said state board of education shall formulate and adopt rules and regulations in accordance with Section 25-43-1.101 et seq., and formulate standards and priorities necessary for the orderly administration of the public education system of the state. Such rules, regulations, standards and priorities shall become effective on July 1, 1984. The board shall also require data and information on program performance from any source relating to the public school system. The state department of education shall assist the board in assuming its duties and shall provide any technical assistance as may be required. The state department of education, from any funds appropriated thereto, shall, upon the request of the board, timely pay, with the approval of the commission of budget and accounting, all sums reasonably required for the operation of the board, including per diem and actual expenses of the board, and the implementation of Chapter 17, Laws of the First Extraordinary Session of 1982, through June 30, 1984.