(1) The board is authorized to enter into agreements to lease any of the facilities at the Colorado state fair and industrial exposition at Pueblo, Colorado, upon such terms and conditions as shall be approved by the board. The board is further authorized to sponsor any off-season event which it may approve. All moneys received by the board under this section and through any other authorized activities shall be transmitted to the state treasurer and placed in the Colorado state fair authority cash fund, which fund is hereby created in the state treasury. Moneys in said fund shall be for the use, operation, maintenance, and support of the Colorado state fair and industrial exposition, which use shall include the payment of bond obligations in accordance with the provisions of part 3 of this article and, without limitation, other obligations of the board.

(2) Custody of all moneys in the Colorado state fair fund as of June 30, 1997, shall be transferred to the Colorado state fair authority cash fund.

(3) (a) The Colorado state fair authority cash fund shall consist of:

(I) All moneys that may be appropriated thereto by the general assembly;

(II) All other moneys that may be available to it, including the moneys received under subsection (1) of this section; and

(III) All moneys credited to the fund in accordance with section 38-13-116.7 (3), C.R.S.

(b) The moneys in the Colorado state fair authority cash fund shall be subject to annual appropriation and shall not be transferred to or revert to the general fund of the state at the end of any fiscal year. All interest derived from the deposit and investment of moneys in the fund shall be credited to the fund.

(4) Repealed.