18-9-104. Authority to establish county fair endowment fund; sources of revenue.
(a) Each board of county commissioners may establish a county fair endowment fund.
(b) The county fair endowment fund may accept grants, gifts, transfers, bequests and donations including those that are limited in their purposes by the grantor.
(c) The county treasurer shall invest funds received under this section as permitted by law and the interest accruing from the investment shall be retained in the fund.
(d) Endowment funds may be expended by the board of county commissioners or, if authorized by the board of county commissioners, the county fairgrounds board of trustees for purposes of erecting or constructing improvements, equipping improvements already erected on a county fairgrounds, purchasing land for county fairgrounds or operating county fairs.
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