The boards of county commissioners of the various counties, for the purpose of promoting and encouraging regional or district fairs in regions or districts of which their counties are a part, may use such portions of their county fair funds as may be agreed upon by the boards of county commissioners in the various counties in the region or district to establish, operate, and conduct regional fairs at a centrally located point in said district or region. No district or regional fair shall be held on any of the days of each year on which the Colorado state fair and industrial exposition is held.
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