9-4-1107 - Enterprise Fund -- Creation -- Revenue -- Uses.
9-4-1107. Enterprise Fund -- Creation -- Revenue -- Uses.
(1) (a) There is created an enterprise fund entitled the Utah State Fair Fund.
(b) The executive director shall administer the fund under the direction of the board.
(2) The fund consists of money generated from the following revenue sources:
(a) lease payments from person or entities leasing the state fair park or any other facilitiesowned by the corporation;
(b) revenues received from any expositions or other events wholly or partially sponsoredby the corporation;
(c) aid or contributions of money, property, labor, or other things of value from anysource, including any grants or appropriations from any department, agency, or instrumentality ofthe United States or Utah;
(d) appropriations made to the fund by the Legislature; and
(e) any other income obtained by the corporation.
(3) (a) The fund shall earn interest.
(b) All interest earned on fund money shall be deposited into the fund.
(4) The executive director may use fund money to operate, maintain, and support theUtah state fair, the state fair park, and other expositions sponsored by the corporation.
Enacted by Chapter 260, 1995 General Session