I personally don't know every detail, but I found this link that has all of the important information.
Principal's 200 Club:
(Click picture for link)
This explanation of the Principal's 200 Club says that there are 4 things you'll need to implement this program.
If you decide to implement this program in your school, you might want to use an award or certificate to give to students. I believe you can order official looking copies from somewhere, but you could also use this template.
Does your school do a school-wide behavior plan?
If so, what is it?