262.261. State fair escrow fund created, use of moneys.
State fair escrow fund created, use of moneys.
262.261. 1. The "State Fair Escrow Fund" is hereby created. Suchfund shall be held and maintained by the state fair commission. All ticketsales income pertaining to the Missouri state fair grandstand shows, arenaevents, and carnival rides shall be deposited into the state fair escrowfund. The fund may receive moneys for specific event purposes, includingboth off-season and fair events. Such fund may receive gifts, grants,contributions, and funds or benefits from any other source or sources, suchas sponsorships and auction proceeds. The money in the state fair escrowfund may be used for paying entertainers, carnival contractors, workers,and other event promoters and may include expenses and equipment.
2. The state fair escrow fund shall be established and operated bythe state fair in a separate account and under the direct control of thestate fair director and the state fair commission. The provisions ofsection 30.170, RSMo, to the contrary notwithstanding, the money in thestate fair escrow fund shall be retained outside the control of the statetreasury. The provisions of section 33.080, RSMo, to the contrarynotwithstanding, the money in the state fair escrow fund shall be retainedfor the purposes specified in this section and shall not revert or betransferred to general revenue. The state fair shall keep accurate recordsof the source of money deposited in the state fair escrow fund and shallallocate funds for the appropriate expenditures.
3. The unexpended balance in the state fair escrow fund at the end ofeach calendar year shall not exceed the preceding year's expenditures asthey are described in subsection 1 of this section.
(L. 2007 H.B. 428)