2002 Minnesota Statutes

     37.13 Ownership of money and property; capital 
  improvements. 

    Subdivision 1.    Use of money.  The state owns all 
 money and other property of the society in the name of the 
 society and there may be no division of its assets among society 
 members.  Money received by the society must be used for holding 
 its annual fair and for other exhibitions or expositions the 
 society holds, for the improvement of the fairgrounds, for the 
 payment of expenses, premiums, and purses, for the acquisition 
 of real and personal property, for the use and benefit of the 
 society, and for furnishing attractions and amusements the board 
 of managers considers necessary for the success of its fairs and 
 other exhibitions and expositions. 

    Subd. 2.    Capital improvements.  The society shall 
 spend the amount of sales tax retained under section 289A.31, 
 subdivision 7, paragraph (f), exclusively to make capital 
 improvements to state-owned buildings and facilities on the 
 state fairgrounds.  The society shall match the amount retained 
 with an equal amount from proceeds from special assessments 
 levied against commercial exhibits, concessions and rentals, and 
 from other special user fees specifically designated for capital 
 improvements. 

    HIST: (7872) RL s 3084; Ex1957 c 6 s 2; 1965 c 411 s 2; 1985 c 
 265 art 2 s 1; 2000 c 418 art 1 s 2