(1) The Colorado state fair authority and the board of commissioners of the Colorado state fair authority, created pursuant to section 35-65-401, shall constitute an enterprise for the purposes of section 20 of article X of the state constitution, so long as the board retains the authority to issue revenue bonds and the Colorado state fair authority receives less than ten percent of its total annual revenues in grants, as defined in section 24-77-102 (7), C.R.S., from all Colorado state and local governments combined. So long as it constitutes an enterprise pursuant to this subsection (1), the authority and the board shall not be subject to any provisions of section 20 of article X of the state constitution. (2) For purposes of part 2 of article 72 of title 24, C.R.S., the records of the Colorado state fair authority and the board of commissioners of the Colorado state fair authority shall be public records, as defined in section 24-72-202 (6), C.R.S., regardless of whether the authority and the board constitute an enterprise pursuant to subsection (1) of this section.
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