Effective 28 Aug 1994
262.262. State fair trust fund for prizes — disbursement — investment. — 1. A special trust fund, to be known as the "State Fair Trust Fund", is established in the state treasury. All moneys received by the state from gifts, grants, legacies or devises for the purpose of providing premiums or prizes to winners of competition at the Missouri state fair in Sedalia, Missouri, shall be deposited in the state treasury to the credit of the trust fund. Moneys in the fund may be appropriated and may be disbursed, on warrants drawn by the director and approved by the commission, only for the purpose for which the moneys were received and for no other purpose. Any balance remaining in the fund at the end of the biennium shall not be transferred and placed to the credit of the general revenue of the state, but instead shall remain in the fund until appropriated and expended, or transferred in the manner authorized by the provisions of this section.
2. Moneys in the state fair trust fund not needed currently for the purposes designated in subsection 1 of this section may be invested by the state treasurer in the manner that other moneys of the state are authorized by law to be invested. All interest, income and returns from moneys of the trust fund shall be deposited in the state treasury to the credit of the trust fund.
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(L. 1979 H.B. 792 § 1, A.L. 1994 S.B. 692)
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