262.262. State fair trust fund for prizes--disbursement--investment. - Missouri Statutes

State fair trust fund for prizes--disbursement--investment.

262.262. 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 ordevises for the purpose of providing premiums or prizes towinners of competition at the Missouri state fair in Sedalia,Missouri, shall be deposited in the state treasury to the creditof the trust fund. Moneys in the fund may be appropriated andmay be disbursed, on warrants drawn by the director and approvedby the commission, only for the purpose for which the moneys werereceived and for no other purpose. Any balance remaining in thefund at the end of the biennium shall not be transferred andplaced to the credit of the general revenue of the state, butinstead shall remain in the fund until appropriated and expended,or transferred in the manner authorized by the provisions of thissection.

2. Moneys in the state fair trust fund not needed currentlyfor the purposes designated in subsection 1 of this section maybe invested by the state treasurer in the manner that othermoneys of the state are authorized by law to be invested. Allinterest, income and returns from moneys of the trust fund shallbe deposited in the state treasury to the credit of the trustfund.

(L. 1979 H.B. 792 § 1, A.L. 1994 S.B. 692)

CROSS REFERENCE:

State fair trust fund abolished subject to exemption, RSMo 33.571