2-225. Agreement with Hutchinson community foundation; approval by attorney general; donations and bequests for benefit of state fair; receipt, administration, investment and disposition of moneys.
2-225
2-225. Agreement with Hutchinson
community foundation; approval by
attorney general; donations and bequests for benefit of state fair; receipt,
administration, investment and disposition of moneys.
(a) The state fair board is hereby authorized to negotiate and
enter into an agreement with the Hutchinson community foundation, a
not-for-profit corporation, for the Hutchinson community foundation to receive,
administer and invest any moneys donated, bequeathed, granted, awarded or
contributed from any private or public source outside the state treasury for
the general benefit of the state fair or for specific capital improvements,
projects, programs, activities or events for the benefit of the state fair. All
moneys received for such purposes by the Hutchinson community foundation, and
all interest earned thereon, shall be deposited, administered and disbursed by
the Hutchinson community foundation to the state fair board in accordance with
the agreement, after payment of any applicable fees or expenses authorized by
the agreement. The state fair board shall not enter into any agreement with the
Hutchinson community foundation under this section until the agreement has been
reviewed and approved by the attorney general.
(b) Upon receipt of any such moneys by the state fair board, the state fair
board shall remit
the entire amount of the remittance to the state
treasurer
in accordance with the provisions of K.S.A. 75-4215, and
amendments thereto.
Upon receipt of each such remittance, the state treasurer shall deposit the
entire amount in the state treasury to the credit of the state fair fee
fund or the state fair
capital improvements fund, or in designated amounts of such remittance to each
of such funds as specified by the state fair board.
History: L. 1994, ch. 22, § 1;
L. 2001, ch. 5, § 7; July 1.