The board of directors shall provide for holding annually at the fairgrounds of such county an agricultural and industrial exposition and fair for the purpose of exhibiting and displaying resources connected with or part of agricultural, horticultural, mineral, mechanical, and industrial development and the raising of livestock not only from Oklahoma but from any other state or place, and shall have the power and authority in order to encourage the exhibiting and displaying of such resources and livestock to offer and pay suitable premium and awards and to grade and classify all exhibits entered in competition at such exposition and fair, and to employ all necessary assistants and provide for the payment of a reasonable salary or compensation to such employees. Provided, that in the event the board of directors should decide that it would be impractical to hold an exhibition or fair in any year, they may postpone the same to such time as, in their opinion, it would be advisable to hold same, whether in the same year or a succeeding year.

Laws 1947, SB 104, p. 4, § 8.