THe followng steps will quickly setup a freenode IRC channel.
This requires your nick is properly registered
/msg ChanServ info #myChannelName
If it does not exist, proceed.
/msg ChanServ register #myChannelName
Password protect it
/msg ChanServ set #myChannelName mlock +k thePassword
If / when it comes time to delete the channel:
/msg ChanServ DROP #myChannelName