All expenses of operating the free fair, including awards and prizes, shall be paid first from the tax account and second from the "miscellaneous revenue account." Any funds remaining in the "miscellaneous revenue account" shall be appropriated for the next fiscal year to be used for maintenance, construction or any other proper purpose to be determined by the fair board. Any and all funds on hand to the credit of any existing free fair association in any such county shall be immediately transferred to the credit of the association created hereunder upon the election of the board of directors as provided hereunder.

Laws 1947, p. 6, § 12.