purposes. The board of county commissioners of any county in this state which has received a gift real or personal property to be used for fair purposes is hereby authorized to transfer such property, or if the property is sold by the board of county commissioners, then to transfer the proceeds therefrom, to any nonprofit corporation in such county organized for the purpose of conducting an annual county fair. The nonprofit fair corporation upon receipt of such real or personal property shall agree to sponsor and conduct in the county an annual county fair for such number of years as may be agreed upon by the corporation and board of county commissioners.
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